BuyWithMe In Negotiations For Acquisition and Lays Off More Than Half Of Their Staff

Posted Oct 28, 2011

Gilt Groupe is rumored to be in the final stages to acquire daily deals service BuyWithMe. BuyWithMe laid off over half of their staff last week to attract potential buyers. Matrix Partners is an investor in BuyWithMe and Gilt Groupe. BuyWithMe is expected to be rolled into Gilt Groupe starting November 1st. BuyWithMe was considered to be the number three player in the daily deals market after Groupon and LivingSocial. BuyWithMe is expected to be rolled into Gilt City. [BetaBeat]