By Kate Hanaghan, 14 August 2001 10:30
NEWS Letsbuyit.com, the group-buying site with nine lives has attracted more funding after a major investor pulled out a couple of months ago.
Shmulik Stein International walked away and took E30m (£19m) with it. Letsbuyit.com now says it has signed a letter of intent with new investors to fill this gap, according to reports on FTmarketwatch.
The company's shares, which are listed on Germany's Neuer Markt, were suspended for an hour yesterday before jumping 47 per cent. This morning, however, the company was back in the red.
Its share price hit a high of E6.50 (£4.10) last year but slumped to E0.19 (11p) as of this morning.
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