Daily-deals provider BuyWithMe has been sold off to Gilt Groupe, BetaBeat is reporting.
According to the blog, neither party divulged the terms of the acquisition. The companies expect to combine forces on November 1. Gilt expects to layoff some BuyWithMe sales staff and provide them with one week's pay as a severance, BetaBeat's sources say.
Unfortunately for BuyWithMe, layoffs have become commonplace at the company. Just last week, the company laid off over half of its staff, or about 100 people, due to its continued inability to compete effectively against Groupon and LivingSocial. According to BetaBeat, sales staff … Read more