BuyWithMe Raised ~ $22 Million And It's Being Acquired By Gilt Groupe For ~ $5 Million

Jim Crowley BuyWithMeJim Crowley is founder and CEO of BuyWithMe

Last week, Gilt Groupe was rumoured to be acquiring BuyWithMe after the daily deals site laid off more than half its staff.Gilt Groupe has confirmed the purchase, and BuyWithMe’s site already redirects to Gilt City.

AllThingsD hears the acquisition price was ~ $5 million in cash.

That has to hurt for a company that was deemed the #3 player after LivingSocial and Groupon. It also has to hurt for investors who poured about $22 million in to the company.

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