Monday, November 24, 2008
Yahoo sells Kelkoo for Euro 100mm to Jamplant (UK investment firm)
Yahoo! bought Kelkoo back in 2004 for Euro 475. News out late yesterday that they have sold it for Euro 100 million to Jamplant - a UK investment firm I have not heard of. This a significant loss for Yahoo! both in terms of capital losses but also in functionality. On the positive side for Yahoo because after three good years in 2007 the business lost Euro12 million. I can see the short term benefit but in the long term I think Yahoo will regret exiting meta-search. French language news story here including a table showing the turnover and losses. TechCrunch story here including English language version of the internal email.