Klarna acquires universal shopping cart Shop.co
Klarna has acquired Shop.co, a small German startup that wants to simplify online shopping by offering a universal shopping cart. There’s little known about the deal, but according to Klarna it’s mostly about the acquisition of intellectual property and taking over a mere Shop.co employees.
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The news came first from German magazine t3n, which based it information on an email the Düsseldorf startup Shop.co sent to its customers. In the mail, founder Jay Habib confirmed the company was acquired by a ‘leading European tech company’, but for t3n it was clear they were talking about Klarna. Mostly because several Shop.co employees had already identified the company as their new employeer in their LinkedIn profiles.
‘Purchase price is far lower’
According to t3n, a purchase sum somewhere in the mid double-digit millions is also likely. But later on, Klarna told another media outlet, Tech.eu, that the purchase price is far lower than some media have been speculating. It also said that it’s most acquiring intellectual property and employees.
Browser extension to be discontinued
As part of the acquisition, Shop.co’s browser extension, which allows online shoppers to buy from different stores in one go and check out with just one click, will be discontinued.