This morning, news broke that Scoop St had been acquired by daily deals site BuyWithMe.We’ve heard from a private company financial data company, Privco, that the buying price was $5 million, all cash.
If that’s the case, investors saw a 4x return on their $1.2 million Scoop St investment. Full disclosure: we don’t know enough about Privco to 100% trust the intel.
When we asked Scoop St’s founder David Ambrose to confirm or deny the numbers, he replied:
We’re not able disclose the terms of the transaction, but needless to say, we’re really happy with the outcome post three years of really hard work – considering that the space was just starting and we were two relatively inexperienced entrepreneurs.
Since that time, and even when I talked to Dan when we first opened back at Dogpatch Labs, things have accelerated. We’ve learned a ton and built a great business that we saw could go to the next level with BuyWithMe.
Scoop St is BuyWithMe’s 5th acquisition, and it is now operating in 13 cities.