Gilt Puts Jetsetter Up for Sale [REPORT]

It appears that Gilt Groupe is look to sellJetsetter, a flash sales site for high-end vacation packages.

Gilt has been shopping the division to private equity firms and other online travel companies, according to The Wall Street Journal.

The company is reportedly seeking between $50 million and $100 million -- a hefty asking price, one source told the Journal, given that the site isn't profitable. Its founder and chief executive, Drew Patterson, stepped down in May.

The move comes amid expectations that Gilt will file for an initial public offering next year. The company started as a flash sales site for womenswear and has since expanded to several other categories, incl…
Continue reading...

More About: gilt, gilt groupe, jetsetter