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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Yahoo sells shopping service Kelkoo AFP - 1 hour 48 minutes ago PARIS (AFP) - - Yahoo has sold European comparison shopping service Kelkoo to a British investment firm, Kelkoo founder and former chief executive Pierre Chappaz said Friday. Chappaz, in a posting on his blog at wikio.fr, published a memo to Kelkoo employees from a Yahoo Europe executive, Glen Drury, announcing the sale of Kelkoo to British private equity firm Jamplant Ltd. "Philip Smyth, Chairman of Jamplant, believes that with our backing, Kelkoo should be able to accelerate its growth much faster as a standalone company," the memo from Drury said. Chappaz, who founded Kelkoo in 1999 but has since left, said Kelkoo was sold for under 100 million Euros (125 million dollars), significantly less than the 475 million Euros paid by Yahoo for the firm in 2004. In his blog posting, Chappaz delivered a parting shot at Yahoo saying "the difference is the price of management incompetence that led Yahoo's share price under nine dollars." Kelkoo, which employs 270 people in Paris, Grenoble and London, claims some 50 million users in 10 European countries. The sale comes as Yahoo searches for a new chief executive to replace Jerry Yang, the Yahoo co-founder who announced this week that he would be stepping down after less than 18 months in the job. Earlier this year, Yang rejected a 47-billion-dollar takeover offer from software giant Microsoft, earning the ire of many share-holders in the Sunnvale, California-based Internet company. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Internet Portals & Search Engines Yahoo sells shopping service KelkooAFP - 1 hour 48 minutes ago Google unveils custom search, kills LivelyAFP - Saturday, November 22 New European online library crashes under weight of interestAFP - Saturday, November 22 Google picks Austria village for new European server farmAFP - Friday, November 21 Related Articles: Technology Yahoo sells shopping service KelkooAFP - 1 hour 48 minutes ago Google unveils custom search, kills LivelyAFP - Saturday, November 22 New European online library crashes under weight of interestAFP - Saturday, November 22 Pirates thwarted with MP3 sonic blastAFP - Saturday, November 22 Google picks Austria village for new European server farmAFP - Friday, November 21 Enlarge Photo Kelkoo logo. Yahoo has sold European comparison shopping service Kelkoo to a British investment firm, Kelkoo founder and former chief executive Pierre Chappaz said Friday. Related Photos Slideshow Full Photo Coverage: Internet Portals & Search Engines Related Full Coverage Internet Portals & Search Engines Latest development in the online world All Full Coverage Most Popular – Technology Viewed Wall Street plunges again as panic spreads Oil prices slump under $50 per barrel World stocks dive as panic spreads Is superfood omega-3 keeping its promise? New strain of deadly Ebola virus discovered View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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