Too many deals and no way to keep up? Have no fear, MyCabbage is here. What started as a service project in CEO Kris Petersen’s kitchen two years ago has grown into a full blown deals marketplace, complete with social capabilities. What’s more, the company formerly known as DealsGoRound relaunched today after raising $950,000 from the likes of Lightbank, I2A and New World Ventures, plus some angel investors.
“We knew for quite some time that our product was evolving into something which was applicable across the world of savings and not specific to daily deals,” says Petersen. DealsGoRound was an appropriate name when their business operated on the reselling of deals from sites such as Groupon and LivingSocial, but now that they’ve expanded into the coupon and gift card management space, the name became more of a distraction. So how did the name come about? “Deals, gift cards, coupons…they’re all worth money, or ‘cabbage’ as we call it.”
Read more: Find out how MyCabbage intends to use their new funds and how Petersen feels about the growth of his business.