Deals Site for Moms Totsy Buys Assets of Mamasource
Totsy, a site offering flash sales on products for mothers and children, has acquired the assets of Mamasource, another deals site for mothers. The deal will add 2 million members to Totsy’s user base, bringing its total to 5 million members. Guillaume Gauthereau, co-founder and CEO of three-year-old Totsy, says Mamasource, the commerce arm of content site Mamapedia, will help Totsy to expand into more experiential offerings, such as local children’s parties. The acquisition will also help Totsy push into daily deals rather than just discounts on products. In mid-July, Totsy raised $18.5 million in a Series B round of funding. The company has raised $35 million in total venture capital and has 110 employees. Gauthereau expects Totsy’s revenue to triple in 2013. Its main competition appears to be zulily, which raised $85 million in a Series D round of funding in November, giving it a $1 billion valuation. (Upstart Business Journal, TechCrunch)
