Gilt City Confirms Acquisition of BuyWithMe’s Assets

Gilt Groupe’s daily deals business, Gilt City, has officially acquired the assets of BuyWithMe, as I reported last week. BuyWithMe customers are being redirected to the Gilt City Web site. Gilt did not disclose the terms, but sources familiar with the deal said the company paid about $5 million in cash and stock for the assets.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald