An online co-commerce company, based in Stockholm, Sweden with market shares in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Switzerland, and the United Kingdom, promising cheaper prices to registered customers by collectively buying greater quantities of a select variety of products (mostly must-have hi-tech gadgets) from manufacturers.
Due to a collapse of the technology/service-related stocks in the market and optimistic expansion prior to this, the company suffered hardships at the turn of the millennium (buzzword, cuss word), and were forced to shut down many of its offices while performing major restructuring of the organization, and awaiting better times. As of June 2001, France, Germany, Sweden, and the United Kingdom were still in operation.
The company managed to raise a considerable amount of money (over 50 million Euros) by publicly appealing to investors, and says it believes it will be able to re-open their other international sites while maintaining them from London, Paris, Stockholm, and Munich. The company appears to be heading in the right direction, and if it continues to do so, it will serve to pave the way for successful online business beyond the hysterical late nineties.
The noding of information regarding Web sites under their respective names is frequently questioned, as they tend to undergo merges and name-changes, but whether or not letsbuyit retains its current name is less important than the fact that it serves as an example in current economic history.