Friday, January 8, 2016

The Clymb Sold To LeftLane Sports In Fire Sale

Portland-based online outdoors product retailer The Clymb has quietly been sold to competitor LeftLane Sports, in a deal which occurred in September. The sale was first uncovered by The Oregonian. Financial terms of the sale were not announced by the companies, but The Oregonian says investors and employees have said the deal was worth a mere $100,000 in cash, plus $18.5 million in assumed debt. The Clymb was venture backed by the Oregon Angel Fund and Walden Venture Capital. The company was one of many, vertically-focused deal sites that came about around the time of the growth of Groupon.