Feeds

Yahoo! offloads Kelkoo for a song

Euro shopping service = €375m loss

Security for virtualized datacentres

Yahoo! has sold Kelkoo, the European comparison-shopping service, to a hereto unknown English private equity firm called Jamplant.

While Yahoo! won't reveal how much it received in the deal, ex-Kelkoo CEO and founder Pierre Chappaz claims on his (French) blog that the company was sold for under €100m. That's quite a dip from the €475m cash Yahoo! had initially paid for Kelkoo in 2004.

Four years ago, Yahoo! said the purchase of Kelkoo would add "significant strength and scale to Yahoo! Europe's business." But the bargain shopping site soon found itself struggling to keep up with its competition.

Chappaz blames the price discrepancy on "incompetence of management" which brought Yahoo stock price down to under $9 last week. Specifically, he fingers Yahoo!'s inability to properly manage its teams outside the US.

While it might be tempting to categorize the sale as the first step in Yahoo!'s de-Yangification process, the company has been considering offloading the service since at least since October 2007.

Meanwhile, Jamplant remains a bit of a mystery, having been created only six weeks ago. Chappaz claims to have posted a redacted internal email from Kelkoo describing the investment firm as being funded by several angel investors "excited about the price comparison space." ®

Beginner's guide to SSL certificates

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
French 'terror law' declares WAR on the INTERNET itself, say digi-rights folks
Liberté, Égalité, Fraternité: Two out of three ain't bad
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.