Gilt Groupe Looking To Sell Off Jetsetter
Gilt Groupe is looking to sell off travel website Jetsetter. Gilt Groupe was originally planning to sell the website for around $100 million according to The WSJ. The WSJ said that the price was taken down to $50 million due to an initial lack of interest.
Earlier in the year, Gilt had shut down their full price fashion website for men and downsized food website Gilt Taste. The company also had massive staff cuts in order to keep costs down and prepare for an IPO.
In May 2011, Gilt raised $138 million at a $1 billion valuation. Jetsetter started in 2009 and offers vacation packages to shoppers.@amitchowdhry or on Google+ at +AmitChowdhry