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Letsbuyit.com Shuts Up Shop In The UK
News Co-buying Web site Letsbuyit.com is to close its UK operations and lay off nearly half its staff after announcing a loss of £4.6m for the three months to 30 June. So far this year, Letsbuyit.com has made a loss of £16m.
[August 31, 2001, 10:29]
Letsbuyit.com Gets Bankruptcy Reprieve
News Beleaguered online retail portal Letsbuyit.com was granted a stay of execution Friday when a Dutch court gave it until 24 January to find the 4m Euros (£2.5m) required to pay off its debts. Dutch legal firm Van Doorne, which was appointed trustee...
[January 19, 2001, 15:21]
LetsBuyIt.com Buys It
News Cooperative shopping site LetsBuyIt.com gave up its battle for solvency Wednesday, announcing it will file for bankruptcy in a Dutch court Friday. LetsBuyIt's shares were suspended Wednesday at a value of 0.46 euros, far below their July peak of...
[January 17, 2001, 15:40]
LetsBuyIt May Deal With Dealpartners
News French collaborative-buying service Dealpartners.com has said it is in talks with LetsBuyIt.com, the e-tailer which recently sought protection from creditors. Dealpartners offers a similar service to LetsBuyIt, in which users pool their buying...
[January 11, 2001, 10:06]
LetsBuyIt Management Team Quits
News The management team of beleagured Web site LetsBuyIt.com, including chief executive Martin Coles, resigned late Wednesday. LetsBuyIt is attempting to raise 80m euros (£50.45m), which would support the company until it reaches profitability...
[January 4, 2001, 8:10]
LetsBuyIt.com Stock Crashes As Trading Resumes
News Internet retailer LetsBuyIt.com saw its shares plummet Tuesday morning as they resumed trading after being suspended Friday. Although LetsBuyIt.com was still accepting new members Tuesday, it was not taking customer orders.
[January 2, 2001, 8:22]
Letsbuyit.com Runs For Cover As Debts Mount
News European e-tailer Letsbuyit.com has suspended trading shares while seeking to defer debt payments. Letsbuyit.com, which is registered in the Netherlands, needs to raise around £50m to survive. Letsbuyit.com has never made a profit.
[December 29, 2000, 14:42]
Letsbuyit.com Sets Debut Amid Dot-com Blues
News The latest high profile dot-com to fall victim of wary investors and a gloomy market is Letsbuyit.com which has been forced to launch its long-delayed floatation at a drastically reduced price. Letsbuyit, which opened its first site in Sweden in...
[July 4, 2000, 10:47]
News Burst: LetsBuyIt Secures Funding, Shares Double
News LetsBuyIt.com announced Wednesday it has avoided bankruptcy and secured 50m euros (around £31.6m) in funding, and has since seen its share price double. LetsBuyIt's shares, which are listed on the Frankfurt Neuer Merkt, rose from 0.24 euros to 0.50...
[January 25, 2001, 9:15]
CoShopper Shopping For LetsBuyIt Customers
News Beleaguered dot-com firm LetsBuyIt is in talks with Norwegian Internet retailer CoShopper about a possible acquisition of some of the former's assets including customers or underlying technology, CoShopper said this weekend.
[January 15, 2001, 13:02]
Will Third Time Be The Charm For LetsBuyIt.com?
News The third time may end up being the charm for LetsBuyIt.com, which Thursday set a price for its third attempt at a public offering, but the company will raise far less cash than it had originally hoped.
[July 21, 2000, 8:40]
Co-operative Online Shopping Hits The UK
News Letsbuyit.com allows UK consumers to team up to purchase goods at knock down prices -- the more demand there is for a product, the lower the price goes. While playing down the actual amount of damage the site would be able to inflict on such high...
[November 16, 1999, 12:07]
More UK Dot-coms Log Off
News He said Europe is probably big enough for only three group-buying companies: "The way we see it, in the European [group-buying] marketplace there will be three companies: Dealpartners Network, Letsbuyit.com and [US-based startup] mobshop.com.
[July 31, 2000, 12:48]
Tech Shares End Summer Doldrums
News On Tuesday, European group buying Web site Letsbuyit.com said it would lay off 80 employees, 20 percent of its workforce, to reduce annual spending by 15m euros. Letsbuyit is regarded as one of the lucky ones, as it tapped the stockmarket last...
[September 4, 2000, 8:57]
News Burst: Adabra.com Disappears
News Other European sites to use the model include letsbuyit.com, which recently made its debut on the Frankfurt stock exchange. Adabra.com, which launched a group-buying service last autumn, has sold its business and brand to Dealpartners Network in...
[July 31, 2000, 11:03]
Three Million New Net Users In The UK
News Interestingly beleaguered dot-com letsbuyit.com came in in sixth place. There are more than 11.5 million people surfing the Internet from home in the UK, a growth of 3 million for the year 2000, according to the latest figures from Internet...
[January 23, 2001, 10:44]
European Online Retailers Will Reap 103 Billion Euros By 2006
News A concurrent study by Internet retailer LetsBuyIt.com additionally reports that the vast majority of online Europeans have spent over £125 on the Web in the last 12 months -- the UK led the way with an average £200 spend.
[July 24, 2001, 17:04]
UK Startup Declares War On 'rip Off Britain'
News The site is similar to the cooperative shopping site Letsbuyit.com , which launched this week, in the way that it takes advantage of bulk purchasing behaviour to drive down costs. Online retailer Intersaver.co.uk, launched Thursday, claims that it...
[November 19, 1999, 9:50]
UPDATE: EToys.co.uk Packs Up Its Toy Chest
News Cooperative buying site Letsbuyit.com announced this week it is seeking deferment of its debt payments. Yet another US e-tailer is packing up and going home. EToys announced Wednesday it will shut down its UK subsidiary after 19 January, as a cost...
[January 3, 2001, 15:42]
Clickmango Hopes Fizzle
News Even more established players, such as Freeserve (quote: FRE) and letsbuyit.com, have seen their market values tumble and found it more difficult to raise capital. The ill-fated natural health Web site Clickmango.com, fronted by Joanna Lumley, has...
[September 5, 2000, 16:47]
