Kelkoo has been sold by parent company Yahoo to a British investment company. The European comparison site was sold for less than 100 million euros, significantly less than the 475 million euros that Yahoo deposited for Kelkoo in 2004.
That is what Pierre Chappaz, founder of Kelkoo, says on his blog. He attributes the low price to mismanagement of Yahoo's board: "The same incompetence has also ensured that the price of a Yahoo share is now below nine dollars."
Yahoo CEO Jerry Yang, who recently stepped down as CEO, earlier this year rejected Microsoft's 47 billion dollar tender offer.
Chappaz publishes on his blog the internal memo that Yahoo sent to the employees of Kelkoo. In this letter, the chairman of the investment company Jamplant lets you bet on more growth for the comparison site.