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Monday, October 17, 2016

Co-founders tried to buy AskMeBazaar for $1 from Astro


Even as a court hearing this week is expected to decide the fate of AskMeBazaar and its 4,000 employees, fresh documents have emerged which show a fallout between the investor and management over a buyout offer of the company, priced at one dollar.

The MBO offer sought AENL to fund USD 30 to 50 million into Getit towards capital infusion in July. According to the document, this was a reduced amount compared to original closure cost of USD 76.5 million.




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