Joinem Gets $5M For Group Shopping Site

Dallas-based Joinem, a new startup focused on group buying, said this morning that it has raised $5M in an investment funding round, an launched its public site. The startup--led by Rick Braddock and Darren Waxman--said the funding came from principals of nine hedge/venture funds, as well as two senior members of Facebook's executive team. Braddock is the former Chairman and CEO of Joinem offers up a site where consumers can join in group buys of different products, which sell if enough users join in accepting the pricing offer from retailers.