PriceGrabber purchased for $485 million
The BBC reports that PriceGrabber.com was purchased for $485 million by UK retail company GUS. Why PriceGrabber? Because PriceGrabber had higher profit margins than other similar sites such as Shopzilla and Shopping.com
Pricegrabber was used by 17 million unique visitors in November and forecasts sales of $60m in 2005.
It seems that $500 million range is a magic number for internet buyouts in 2005. Myspace.com and IGN also were purchased for close to half a billion dollars this year. For a shopping website that doesn’t actually sell anything $485 million is a nice price.
Yep, these big purchases are mighty exciting. Looks like another boom is about open upon us all.
btw,
Nice blog Andrew, I’ve been reading these posts for a while today and have gotten a few ideas.
Comment by Joe — December 14, 2005 @ 6:29 pm
Hey Andrew, your comment form shows up funny in firerox browser.
Hmmm $60m for 17 million visitors thats a pretty good converstion factor I wish my 3000 visitors last month turned in to $9000 dollars.
Comment by Hone Watson — December 14, 2005 @ 8:45 pm
[quote]Hmmm $60m for 17 million visitors thats a pretty good converstion factor I wish my 3000 visitors last month turned in to $9000 dollars. [/quote]
That 60 million is for the whole year.
Comment by Joe — December 16, 2005 @ 9:45 am
[…] difficulty to locate what you are looking for. Google was a step in the right direction. Shopping comparison sites have made millions pulling the mess of onli […]
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