Abstract
RedFlagDeals.com (RFD) is a daily virtual destination for over 450,000 Canadian consumers seeking and sharing coupons, promotions, and deals. Founder, Derek Szeto, created the website because he saw an unmet need in the Canadian market and did not hesitate to create something that is ten times better than spending hours each week clipping coupons on his kitchen counter. From the beginning, Derek and his team bootstrapped their way to the top. He built the business out of nothing in his parents’ basement, with zero outside capital. He and his two employees funded the project themselves, without any external assistance. It was not until they had reached over a two million unique visitors that outside investors approached them to offer expansion funding (Naked Entrepreneur, 2013). Notwithstanding, Derek declined all offers of investment from outsiders. February 2010 marked RFD’s most rewarding milestone to date. Derek made the decision that he would sell to Yellow Pages Group Canada. After the transaction, Derek moved over to work under Yellow Pages Group Canada (YPGC) in the position of General Manager-Deals, Coupons, and Shopping. In late 2011, RFD was one of the 100 most popular websites in the country (Szeto, 2011). To this day, RFD attracts more than 2.5 million monthly readers by providing coupons and promotions across 14 categories (RedFlagDeals.com, 2013).
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