BOSTON, MA and NEW YORK, NY--(Marketwire - Mar 11, 2011) - Leading group-buying site, BuyWithMe capitalizes on its fast growth with today's acquisition of daily deal site LocalTwist, a division of LifeStreet Corporation. Founded in 2010, LocalTwist launches BuyWithMe into the Seattle market, while at the same time increasing its rapidly growing presence and market share in San Diego.
"Consumer and merchant demand for group shopping is enormous. This acquisition is an important extension of our already rapid growth," said Jim Crowley, CEO of BuyWithMe, Inc. "LocalTwist accelerates our presence and on the ground footprint in two key markets while further amplifying both our merchant network and consumer reach. As a result, our ability to enable local consumers and merchants to better discover, interact and transact with one another continues to accelerate. We could not be happier about welcoming the LocalTwist community to the BuyWithMe family."
"Our core business, LifeStreet Media -- the largest advertising network on Facebook -- is experiencing explosive growth right now, so we need all hands on deck," said Mitchell Weisman, CEO of LifeStreet. "We are delighted to find such a great partner in BuyWithMe to acquire the assets of our LocalTwist daily deal division. BuyWithMe's reach and capabilities will allow LocalTwist members to continue to live life to the fullest through amazing deals on cool things to do in their city."
LocalTwist was born from the company's desire to tap into the power of social media in order to bring the most value to consumers and local businesses through group-buying. The acquisition of LocalTwist complements BuyWithMe's upcoming initiatives in the social space that will help consumers share and enjoy high value, low cost experiences.
BuyWithMe (www.BuyWithMe.com) launched in May 2009 and is one of the country's leading group buying and social commerce companies that allows consumers to discover and experience the best offerings from businesses in their city. BuyWithMe currently operates in Austin, Boston, Chicago, Dallas, Houston, Los Angeles, New York, Philadelphia, Phoenix, San Diego, San Francisco, Seattle and Washington D.C.
For merchants looking for more information about working with BuyWithMe, and consumers who want to learn about the best offers in their city, visit www.BuyWithMe.com.
About LifeStreet Media
LifeStreet Media is the largest advertising network on Facebook. Specializing in very high volume customer acquisition, LifeStreet has driven over 100 million app installs to date. The company, recently named one of America's 500 fastest growing private companies by Inc. Magazine, is now extending its reach with the launch of its mobile ad network.