Scripps Sells Shopzilla Shopping Search Engine
By Ina Steiner
Scripps Networks Interactive completed the sale of Shopzilla Inc. to Symphony Technology Group on Thursday. Scripps had acquired Shopzilla in 2005 for over $525, shortly after eBay acquired Shopping.com for $620 million.
Symphony, a strategic private equity company, acquired all of the outstanding shares of Shopzilla for $165 million, comprised of $150 million in cash paid immediately upon closing of the transaction and $15 million in deferred payments.
Shopzilla manages a portfolio of online shopping brands in the U.S. and Europe, consisting of Bizrate, Beso, Shopzilla, TaDa, PrixMoinsCher, and SparDeinGeld.
Shopzilla connects shoppers with over 100 million products from tens of thousands of retailers and reaches a global audience of over 40 million shoppers each month through both its destination websites and affiliate network.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
You may quote up to 50 words of any article on the condition that you attribute the article to EcommerceBytes.com and either link to the original article or to www.EcommerceBytes.com.
All other use is prohibited.