Yahoo offloads bargain shopping site Kelkoo
Yahoo has announced the sale of Kelkoo, its European comparison-shopping site, to English private equity firm Jamplant. While financial details of the deal were not disclosed, Kelkoo founder and former chief executive Pierre Chappaz wrote on his blog that the subsidiary went for less than $125 million, a major dip from the $576 million Yahoo initially paid for it in 2004.
Some have suggested that this is the first post-Jerry Yang move Yahoo has made to… Continue Reading
Yahoo considers sale of shopping service Kelkoo, after bad performance
Yahoo said it is considering the sale of Kelkoo, its online shopping comparison service, only three-and-a-half years after it acquired the company for €475m ($672m).
The move, reported by the FT last night, comes as Yahoo is struggling to redefine its business strategy, and after evidence that Kelkoo hasn’t performed to expectations.
The Kelkoo purchase was another one of those “What were you thinking?” moments, when industry experts were widely perplexed at why Yahoo had paid so… Continue Reading