Beenz up for sale - FT

Beenz up for sale - FT

The Financial Times is reporting that Web currency company has put itself up for sale.

Without citing sources, the FT asserts that Beenz is in talks with a number of potential buyers and strategic partners.

Beenz raised $80 million to fund an ambitious international expansion programme at the height of the dotcom boom. The company has since retrenched in a bid to preserve cash. According to the FT, Beenz has sacked 70% of its 260-strong workforce and advanced plans to close most of its international offices.

The company claims 5.4 million account holders for its online loyalty programme.

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