VerticalScope has bought VarageSale, a Toronto-based buy-and-sell website and mobile app. No financial terms were released. VerticalScope, a Canadian digital media company, said the deal supports its focus on enthusiast websites and interest-based online communities. VarageSale was founded in 2012 by Carl Mercier and Tami Zuckerman as a community-based “virtual garage sale.” Led by CEO Andrew Sider, it raised nearly $60 million from Canadian and U.S. venture capital firms, according to Crunchbase. Its investors included iNovia Capital, Lightspeed Venture Partners, Real Ventures, Sequoia Capital and Version One Ventures.
TORONTO (PRWEB) NOVEMBER 08, 2017
VerticalScope, a digital media company specializing in enthusiast websites and interest-based online communities, announces that it has acquired VarageSale, the community-focused buy and sell website and mobile app. Terms of the deal were not disclosed.
VarageSale was co-founded in 2012 by Tami Zuckerman and Carl Mercier to provide a safer, more local way to buy and sell online. Investors of VarageSale include Sequoia Capital, Lightspeed Venture Partners, Real Ventures and Version One Ventures.
The deal complements VerticalScope’s 600-plus online communities that reach over 100-million unique monthly visitors with a significant number of buy and sell transactions each month.
“The strength of VarageSale is in its highly engaged user base who buy, sell and connect through their online marketplace. Their team has built a unique product predicated on a customer-centric, safety-first approach,” said Rob Laidlaw, CEO of VerticalScope. “We look forward to welcoming VarageSale into our family of interest-based online communities and bringing their marketplace to more consumers and advertisers.”
“As a leader in online communities, VerticalScope is a natural partner that will make VarageSale a continued success. This is an exciting step for the VarageSale community. We are excited that VerticalScope will continue to deliver on our mission to be the #1 choice to help our community members stretch their budgets,” shared Andrew Sider, CEO of VarageSale.
As part of the acquisition, some members of VarageSale’s engineering and customer support department have joined VerticalScope’s team at their headquarters in Toronto.
Designed by a mom, VarageSale is the family-friendly app to buy and sell used items locally. Founded in 2012, it has millions of members in local communities across Canada, United States and beyond. VarageSale is free to use at varagesale.com and on the mobile app, which is available on iOS, Android and Kindle devices. The company is based in Toronto and funded by investors including Sequoia Capital, Lightspeed Venture Partners and Real Ventures.
About VerticalScope Inc.
VerticalScope enables the world to share expertise and discover knowledge on subjects they love. Established in 1999, VerticalScope owns and operates consumer shopping portals and enthusiast forum Websites focused on high-value vertical markets. VerticalScope’s online properties reach an average of over 100 million highly qualified buyers and purchase decision makers each month.