BuyWithMe
{{Short description|American online retailer}}
{{Infobox website
| name = BuyWithMe
| logo = File:Buywithmelogo.PNG
| screenshot =
| caption =
| url = [http://www.buywithme.com www.buywithme.com]
| alexa =
| commercial = Yes
| type = Electronic Commerce
| language = English
| registration = None
| owner = Gilt Groupe
| author =
| launch_date = May, 2009
| current_status = Defunct
| revenue =
| content_license =
}}
BuyWithMe was a social e-commerce company that was known as the first competitor to group buying website Groupon. Launched in Boston and then later based in New York City, BuyWithMe allowed consumers to leverage group buying power to get discounts with local merchants online.
BuyWithMe launched in May 2009 and was acquired by Gilt Groupe in November 2011,Galen Moore, Boston Business Journal November 2, 2011 [http://www.bizjournals.com/boston/news/2011/11/02/gilt-groupe-acquires-buywithme.html Gilt Groupe acquires BuyWithMe for undisclosed terms] It was absorbed into Gilt Groupe's Gilt City daily deals division.{{cite web|title=Gilt City, A Subsidiary Of Gilt Groupe, Acquires Assets Of BuyWithMe.com|url=http://www.gilt.com/company/press/gilt-city-subsidiary-gilt-groupe-acquires-assets-buywithmecom|publisher=www.gilt.com|accessdate=26 June 2015|archive-url=https://web.archive.org/web/20150627113611/http://www.gilt.com/company/press/gilt-city-subsidiary-gilt-groupe-acquires-assets-buywithmecom|archive-date=27 June 2015|url-status=dead}}
History
In a similar manner to Groupon (except that their deals always lasted a week), BuyWithMe introduced at least one new deal every day. The deal was emailed to all local BuyWithMe subscribers, made available on the company's website, and distributed through a network of group buying media partnerships (including Boston.com, owned by The New York Times). The deal only completed if a minimum number of consumers signed up, therefore assuring the merchant a minimum return.Sam Oches, QSR Magazine August 6, 2009, [http://www.qsrmagazine.com/articles/news/story.phtml?id=9104 Coupon Companies Ditch Standard Format with Internet's Help]
Initially founded by a group of local Boston-area friends, including Andrew Moss{{Cite web|url=https://theswellesleyreport.com/2010/12/google-can-have-groupon-wellesleys-got-buywithme/|title = Google can have Groupon, Wellesley's got BuyWithMe|date = 8 December 2010}} and Seth Rosen.{{Cite web|url=https://www.bedrockdata.com/blog/seth-rosen-hashpath-data-products|title=Productivity Solutions | Versatile, Secure | Formstack}} In 2009 BuyWithMe raised $5.5M;{{cite web| url = https://www.bizjournals.com/boston/blog/mass-high-tech/2010/01/buywithmecom-plans-growth-on-matrix.html| url-status = dead| archive-url = https://web.archive.org/web/20141226023149/http://www.bizjournals.com/boston/blog/mass-high-tech/2010/01/buywithmecom-plans-growth-on-matrix.html| archive-date = 2014-12-26| title = BuyWithMe.com plans growth on Matrix $5.5M funding - Boston Business Journal}} and then 2010, BuyWithMe was funded with $36.5M by venture capital firms Matrix Partners, Bain Capital Ventures, and Pinnacle Ventures. BuyWithMe's first market was Boston, with San Diego and Washington, DC following.[http://www.myfoxdc.com/dpp/mornings/070609_money_monday_buy_with_me Buy with Me] FOX 5 DC "Money Monday", July 6, 2009] By October 2009, BuyWithMe served nine markets and its major competitor was Groupon.Jenn Abelson, The Boston Globe June 14, 2009, [https://www.boston.com/business/articles/2009/06/14/shoppers_of_the_world_unite/ Shoppers of the world, unite] BuyWithMe had partners such as Foursquare.[http://www.internetretailer.com/2011/07/14/new-partnership-pulls-together-power-location-and-daily New partnership] In January, the company appointed Jim Crowley as CEO.[http://www.xconomy.com/boston/2011/08/17/buywithme-ceo-jim-crowley-talks-strategy-in-mobile-payments-and-loyalty-2-0/ BuyWithMe CEO Jim Crowley] In June 2011, the company was pursuing a significant push into loyalty with an acquisition of a card-linked offer company.{{Cite web |date=2011-07-18 |title=BuyWithMe acquires loyalty program service Edhance |url=https://venturebeat.com/entrepreneur/buywithme-acquires-loyalty-program-service-edhance/ |access-date=2023-04-19 |website=VentureBeat |language=en-US}} The sale to Gilt Groupe came as Crowley struggled to raise venture capital.{{Cite web |title=Deal Gone Bad? BuyWithMe Struggles as Investors Sour on Groupon Clones. |url=https://allthingsd.com/20111025/deal-gone-bad-buywithme-struggles-as-investors-sour-on-groupon-clones/ |access-date=2023-04-19 |website=AllThingsD |language=en-US}}
The BuyWithMe founding team went on to other businesses, including Booster by Custom Ink.{{Cite web|url=https://www.betaboston.com/news/2014/06/27/andrew-moss-moves-beyond-buywithme-with-lessons-learned-at-crowdfunding-startup-booster/|title = Andrew Moss moves beyond BuyWithMe, with lessons learned, at crowdfunding startup Booster}}
References
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