Toronto-based daily deals sites TeamBuy.ca and Dealfind.com were acquired by Atlanta-based nCrowd Inc. on Wednesday, after their owner made court filings for creditor protection as they underwent a legal restructuring process.

Couch Commerce Inc. is the firm that owned several Canadian-based deals sites that also included MenuPalace.com. It received a bridge loan from nCrowd on Sept. 11 after filing for creditor protection during its restructuring process that began with a filing made Aug. 29. Now a brief open letter posted to nCrowd’s website, signed by CEO Brian Conley, says that nCrowed has completed its acquisition of the sites. The sites will be operated under nCrowd Commerce Inc., which is registered in British Columbia.

While merchants working with TeamBuy and Dealfind to offer discounted sales, often in a bid to attract new customers, are wondering if they will ever be paid for their sales on those sites, that issue is not addressed in Conley’s letter. But he does offer a discount to consumers shopping on the sites as a way to smooth things over.

“I am so excited to have you as a member of the nCrowd family that I want to personally invite you to take an Extra 20% Off ANY AND ALL purchases you make with us through Tuesday, September 30th, (sic)” the letter states.

Visitors to the TeamBuy.ca and Dealfind.com sites will now find they are rerouted to nCrowd.ca.

According to sources familiar with the company, nCrowd will keep TeamBuy’s Toronto office in tact and will continue to seek business with local merchants. A more concerted public relations push will be made at the beginning of October to communicate the changes.

Merchants that sold deals on the sites after Aug. 29 can expect to be paid in full, the source says. But those selling before Aug. 29 are caught up in the creditor protection process and it’s not clear at this point if nCrowd plans to pay those bills or not. Since nCrowd acquired the assets of Couch Commerce and not its liabilities, it will not have an obligation to pay creditors – rather, a court process will determine how that is done.

 

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  • Good information Brian. If your readers are inclined, there is more on this story at http://www.canadiandealsassociation.com/its-official-ncrowd-takes-over-teambuy-dealfind-menupalace/

  • SaintDon

    I have received emails from TeamBuy for over a year,and while I do not buy online often,I saw two items for sale at a great price that I have wanted in the past.I decided to join the site and order the two items with my credit card,since they seemed to have been around a while and looked legit.
    Usually,I check out for reviews or recommendations before doing business with a company like this ,especially online,but the deals looked good and there was a time limit on them.
    After I ordered it,I could not see any confirmation of my order on the site and sent them a few emails the saem day asking to confirm.I got an aautomated response that they received my customer service email,were experiencing higher than normal call volumes and they would try to get back to me asap/.
    I then googled their name and found alot of unhappy merchants and customers who said the company was not paying merchants ,paid for vouchers were not being honoured,and people had lost thier money with this company TeamBuy.
    I was concerned,but read further that Team Buys assets were bought by a simliar company called ncrowd,who were now the name of the company that the consumer deasl with on the TeamBUy site.Very confusing and daunting and wonder if they will act honorably with consumers and merchants now.I did phone them,ncrowd,,,got a recording and left a message that I would like to either hear from them and confirmed the order will be processed or to cancel the order.Its the weekend and they may not get back till MOnday,,,but still,,,,have not heard back from them on the concerns raised.
    As usual,,,its best to search for reputation and reviews BEFORE you give your card number,,,lesson learned.

    • JA in TO

      Call your credit card company and alert them to this (potential) problem right away. If nCrowd doesn’t honour your purchase or refund your money, you may have purchase protection on your credit card; but that could depend on you notifying them ASAP.

  • J.A. in TO

    Wow. nCrowd has spruced up the Teambuy site and is offering me a 20% discount. So I should rush to give them my money on faith… when I’m still out over 50 bucks “in credit”, on my Teambuy account, which I’ll never see. Once burned, twice shy.

  • JA in TO (again)

    Maybe worth noting: in its last months of operations, Teambuy (like its successor nCrowd) was also big on promotional offers to encourage purchases, e.g. “10% off site-wide” days. Small comfort that they only took me for 90% as much as they could have…

    BTW the Press Release from nCrowd’s Brian Conley says they have offices in Toronto. Consumers might want to know whether they’re using the same office and staff as the predecessor company. My personal negative experiences aside, anyone can check the online records of the Better Business Bureau for colourful descriptions of poor treatment by the Toronto office staff.

  • JA in TO

    BRIAN: Any info you can post about the guys running nCrowd? CEO Conley’s LinkdIn page only says he has a BA from U. Tenn. (year not stated) and 20 months experience running nCrowd; the COO’s page just says he’s with Half Off Depot; and the CFO’s page says he earned a Bachelors in Accounting/Finance at Miami U, in ’85, but nothing else besides his current gig. Thx.

  • Jeff T

    Won’t last long. They aren’t paying back any of the merchants who never received payment from Team Buy. It sucks as a Merchant who lost money and felt horrible telling people we wouldn’t honor the coupons. Please don’t support this company.

  • tsktsk

    I never got my teambuy credits back. NEVER SUPPORT THIS NEW COMPANY NAMED nCrowd !

  • AJ

    I am in the same boat, I am looking to find how we can all get together and sue nCrowd on what they have landed us consumers in. They took over Teambuy/Dealfind assets, but not their liabilities, seriously how’s that even legally possible!
    I would have anywhere from $50-$70 in dealfind / teambuy credits. I don’t even keep track.. and there was no prior email with a headsup, else I would keep tab and possibly spend it for even crap!
    Any suggestions on how to penalize nCrowd? Please inbox me…aamnajindal@yahoo.com

  • bree

    I have $103 dollars on account and they will not honour it. It is the same company as Teambuy, changed the name and everyone is out money. I have been corresponding with them since December. They don’t care. BEWARE!!! Terrible company. Go with Living Social or Groupon. And yes, they also advised me to dispute the CC charges. How can you dispute a charge from a company that has gone bankrupt and is over a year old?