IAC/Interactive acquires online retailer Shoebuy.com

Jan 31, 2006, 4:32pm EST Updated: Jan 31, 2006, 4:32pm EST

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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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