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Amazon in talks to buy Spanish private sales company BuyVip for €70-€80 million

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Ecommerce giant Amazon.com has long been rumored to make a $2 billion play for online private sales club sensation Vente-Privée, but so far a deal hasn’t happened. Now rumors are swirling that Amazon is in late-stage negotiations to acquire Spain-based rival BuyVip instead.

Company executives have denied the rumors so far, but Spanish business publication CincoDías cites multiple sources familiar with the talks having confirmed the acquisition to them. Paperwork is being signed today, according to said sources.

The deal would be valued at roughly €80 million (roughly $110 million) and involves an outright acquisition of the whole company. That would be exactly the same amount Amazon spent on daily deal site Woot earlier this year.

Update: we’re hearing from other sources that price could be lower, in the range of €70 million (approximately $96.5 million).

Founded in 2006, BuyVIP operates a private buying club, where shoppers joint to receive word on short-duration sales on items discounted by 30%-70% that are end-of-line or not available through retail outlets. The Madrid-based company operates in Spain, Italy, Germany, Austria, Portugal, Poland and The Netherlands and claims a user base of around 6 million members.

The company booked a turnover of €70 million in 2009.

BuyVip hasn’t disclosed how much funding it has raised in total, but its most recent round, the company’s third, came in at $20 million. Investors are Kennet Partners, Active Capital Partners, Bertelsmann Digital Media Investments and 3i Group.

More as the story develops.

(Hat tip to Jose A. del Moral)

  • http://techtoom.com vikash

    Giant again ready to engulfed another emerging company, i suspect why these companies don’t want to compete with Amazon and simply surrender.

    Vikash
    TechToom.com

  • http://flippiecow.com serena smith

    THIS IS NOT TRUE ! PLEASE LEAVE AMAZON.COM ALONE ! NEWS REPORTERS AND ALL,IF YOU REALLY WANT A GOOD STORY,GO MAKE UP A DIFFERENT ONE !!!!

  • http://twitter.com/fabiodebe Fabio De Bernardi

    Given the level of funding they got I’m not sure than a €80m exit would be satisfactory to their investors.

  • http://fr.techcrunch.com/2010/10/01/le-scoop-du-jour-amazon-change-davis-sur-vente-privee-et-aimerait-racheter-son-concurrent-espagnol/ Le scoop du jour : Amazon change d’avis sur Vente-Privée et aimerait racheter son concurrent espagnol

    […] d’un article de Robin […]

  • http://francoisderbaix.com/ François Derbaix

    More insight about the operation (in Spanish) in: http://www.carlosblanco.com/2010/10/01/amazon-compra-buyvip-70m/

    Apparently valuation is around 70M€ (and not 80M€).

  • http://www.CarlosBlanco.com Carlos Blanco

    Real price is 70 M€, see http://www.carlosblanco.com/2010/10/01/amazon-compra-buyvip-70m/

    Deal signed today … at this momment ;)

  • http://www.gigle.net/amazon-podria-adquirir-buyvip/ Amazon podría adquirir buyVIP | Gigle.net

    […] han surgido nuevos rumores que dan soporte a esta teoría y apuntan que Amazon podría estar cerca de cerrar o haber cerrado […]

  • Jimi

    Congratulations to Lucas Carné, José Manuel Villanueva and Bruno Coffre.

    But with the acquisition price between EUR70-80 million, the founders will probably walk away with almost no money. If I assume a liquidation pref of 2x.

    This proves that e-Commerce is really a tough sector!

  • http://www.buzz99.com Daniel

    It isn’t strange to find another incident of a giant engulfing an emerging company.Waiting for someone daring enough to stand and compete.

  • http://www.mail-men.de/kauft-amazon-buyvip/ Kauft amazon buyVIP? | Mail Men

    […] Techcrunch soll die Übernahme von buyVIP durch amazon unmittelbar bevorstehen. 70 bis 80 Millionen Euro sei […]

  • http://slyvisions.com/files/amazon-to-buy-spanish-company-buyvip/ Amazon to buy Spanish company BuyVIP? | Uncategorized | SlyVisions dot Com

    […] to sources, Amazon is in talks to acquire Spanish private sales company BuyVIP for around $100 million. BuyVIP […]

  • http://supportthestable.com/soccer-pele-videos/ Soccer Pele Videos | Soccer Super Store

    […] Amazon in talks to buy Spanish private sales company BuyVip for €70-€80 million […]

  • http://www.dosdoce.com javier celaya

    To date, most eBook / eCommerce initiatives have been led by U.S. companies (Google, Amazon, Apple, Barnes & Noble, among others).

    As we all know, Internet has no frontiers and therefore once the English content market consolidates, these companies will enrich their business plans with content from other potential markets such as Spain.

    We would do well to remember that Spanish is the fourth most-spoken language in the world after Chinese, English and Hindi one can hardly turn a blind eye to the revenue potential of a market that is poised to cater to approximately 420 million Spanish speakers around the world.

    • alan poensgen

      Thank you! That is exactly why companies such as Grupo Intercom should get a lot more coverage. An company emplying well over 600 people across more than 40 internet businesses, with a track record of over 15 years is well newsworthy. Nonetheless, since the focus is Latin American when it comes to international expansion the english speaking coverage is minimal.
      There is way more coverage of Asian than of Latin American or Southern European businesses, so some of the big fish go almost unnoticed.

  • http://cerkdti.wordpress.com/2010/10/03/twitter-corner-n%c2%ba9/ Twitter corner nº9 | Cerkdti: El blog de Christian Palau

    […] detalle sobre el tema por ejemplo en el blog de Carlos Blanco (ha hecho un seguimiento al minuto), Techcrunch o en […]

  • http://www.deutsche-startups.de/2010/10/04/lesenswert-amazon-buyvip-telekom-polylooks-hendrik-brandis-brandslisten-google-street-view/ Lesenswert: Amazon, BuyVip, Polylooks, Hendrik Brandis, Brandslisten, Google Street View :: deutsche-startups.de

    […] Amazon, BuyVip Amazon in talks to buy Spanish private sales company BuyVip for €70-€80 million Ecommerce giant Amazon.com has long been rumored to make a $2 billion play for online private sales club sensation Vente-Privée, but so far a deal hasn’t happened. Now rumors are swirling that Amazon is in late-stage negotiations to acquire Spain-based rival BuyVip instead. TechCrunch […]

  • http://erictric.com/2010/10/04/amazon-acquires-buyvip/ Amazon Acquires BuyVIP

    […] and Gerald Heydenreich. We can expect to find out more information in the coming days.[ via TechCrunch Europe ] var a2a_config = a2a_config || {}; a2a_config.linkname="Amazon Acquires BuyVIP"; […]

  • http://www.deutsche-startups.de/2010/10/07/jetzt-ist-es-offiziell-amazon-verkuendet-uebernahme-von-buyvip/ Jetzt ist es offiziell: Amazon verkündet Übernahme von BuyVip :: deutsche-startups.de

    […] Shoppingschwergewicht Amazon keine Angaben. Eine Summe in Höhe von 70 Millionen Euro wurde bisher kolportiert. Erst im April des vergangenen Jahres erhielt die Shopping-Community eine Kapitalspritze in Höhe […]

  • rob.maish

    his proves that e-Commerce is really a tough sector!

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