Yahoo sells Kelkoo to Jamplat

[dhilipkumar]

Yahoo sells Kelkoo to Jamplat

US based internet media giant Yahoo has announced that they have sold their European shopping comparison site Kelkoo.

This unit has been sold to U.K.-based venture company Jamplat.

The two companies did not reveal the financial aspects of this deal.

Experts believe that Yahoo got back much less money for this deal than they had paid for Kelkoo in the first place.

Insiders believe that the company failed to utilize the service to its best potential and hence they decided to get rid of it.

Yahoo has been struggling in their domestic market. Share price has gone down to historic lows and the company is looking for a new CEO.