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IAC/Interactive acquires online retailer Shoebuy.com
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- Boston Business Journal
IAC/InteractiveCorp is acquiring Shoebuy.com Inc. for a sum it did not disclose.
Shoebuy.com is based in Boston and sells shoes, handbags and other clothing and accessories online. The company raised $10 million in financing since its launch in 1999, with backers including Boston's Tudor Ventures and Chicago's Apex Venture Partners.
IAC/InteractiveCorp (Nasdaq: IACI) is based in New York City and earned $69 million in the third quarter on $443 million in revenue.
It was IAC/InteractiveCorp's first Massachusetts acquisition since 2004, when it acquired the travel search engine TripAdvisor. IAC/InteractiveCorp also contributed to a $16 million funding round last fall for Brightcove Inc., a Cambridge, Mass., Internet video company.
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