Turns out when Bed Bath & Beyond said its purchase price for One Kings Lane was “not material,” it wasn’t kidding.
In a filing with the Securities and Exchange Commission, BBB disclosed it paid just $11.78 million for the pioneering flash sales site.
Bed Bath announced the acquisition in June and did not disclose the price. Wall Street estimates at the time pegged the price around $30 million.
One Kings Lane, founded in 2009, at one time earned a valuation of around $900 million.
(Source: Home Textiles Today)
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