ATLANTA, April 12, 2012 /PRNewswire/ -- Half Off Depot, the Southeast's leading online deal company, is pleased to announce its acquisition of Chicago-based Dealster, Inc. The purchase will serve to increase the size of Half Off Depot's member base by 25 percent, extend the company's social commerce capabilities and position Half Off Depot as a viable company in the online deal market. Dealster founder Alen Malkoc will be joining Half Off Depot. Terms of the transaction were not disclosed.
Dealster marks the first acquisition for Half Off Depot. In addition to its membership base, Dealster's value to Half Off Depot lies in its proprietary platform, which includes social elements for customers and merchants as well as other features currently on the Half Off Depot product roadmap. "We look forward to expanding the Dealster platform and extending the social capabilities that Dealster created," says Brian Conley, CEO of Half Off Depot. "This acquisition positions Half Off Depot as a consolidator in the deal space. We are strategically expanding our capabilities and reach organically and through acquisitions. Our mission is to balance these growth opportunities with the needs and wants of our customers and merchants."
"Out of all potential interested parties, including two public companies and other top five major participants in this category, Half Off Depot has the greatest growth potential," remarks Dealster founder Alen Malkoc. "Half Off Depot is proving that their business works for consumers and merchants alike, and we feel Dealster can help achieve their short- and long-term goals."
About Half Off Depot
Half Off Depot is the leading southeast online deal company offering savvy consumers the broadest range of local deals on the Internet. Today, the company helps progressive merchants in Atlanta, Charlotte, Chicago, Knoxville, Nashville, Orlando, and Tampa attract and keep new customers. Launched in April 2008 and based in Atlanta, Half Off Depot is funded by Noro-Moseley Partners, BLH Venture Partners, and Linch Capital. For more information, visit www.halfoffdepot.com.
SOURCE Half Off Depot