It has been less than three years since Experian, the credit-checking giant has bought the price comparison website Price Grabber for an approximate amount of $500 million. Recently, Experian has been hit by a credit squeeze at banks and experiences downturn in fortune, so it has decided to put Price Grabber on the block.
According to Sunday Times, Experian has appointed Allen & Co, an American boutique advisory house to find buyers for Price Grabber. City sources said that simultaneous sale of Yahoo’s Kelkoo, a European shopping comparison site might affect the price tag of Price Grabber.
Price Grabber, a Los Angles-based site was initiated by Kamran Pouzanjani in the year 1999 with $1.5m and has an average of 26m online visitors every month. Though Price Grabber’s revenue rose by 9% last October, the overall revenue of Experian’s core credit checking business witnessed a 2% decline. In order to overcome the impairment Price Grabber is put on sale. Sunday Times reported that Experian was not open to comment on the sale.
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