Huddlebuy

Huddlebuy, the 'Groupon-for-small-businesses', raises £350k in Angel funding

Next Story

Estimates Put Nintendo 3DS At 500,000-750,000 Units Sold In North America

Is there no end to the group buying craze? It seems not and today news comes that Huddlebuy, the ‘Groupon for small businesses’, has raised £350,000 in Angel funding. Those that participated in the round include Alex Chesterman, co-founder of LoveFilm and Zoopla, and well-known Angel Sherry Coutu.

UK-based Huddlebuy is founded by Per Larsen (ex-Apple), Chieu Cao (ex-Microsoft) and Saurav Chopra (ex-Deloite/Yahoo!) and like a typical group buying site, offers discounts – this time aimed at small businesses – through the so-called power of group buying, which in reality is achieved through a sprinkling of economies of scale supported by a heavy dose of social media marketing as offers are designed to go viral.

As such, each deal only goes through once it reaches a tipping point, which in the case of Huddlebuy varies by product and supplier but averages around as little as 3-5 buyers per-deal, while the site runs between 10 and 15 deals at a time. Recent offers include those from KashFlow for its online accounting software and Epson for a 4-in-1 printer.

Interestingly – and I’ve been waiting for somebody to do this – Huddlebuy also offers a ‘request a deal’ option whereby businesses can register their interest in a deal that has expired or a new one they would like to see on the site. Huddlebuy then sends out its sales team to try to make it happen.