In its second-largest acquisition, Amazon buys the company for $970 million.
CUShopper, The Credit Union Member's Shopping Network, has raised more than $16.6 million in additional capital, it says. The investment was led by venture capital firm J.H. Whitney & Co., as well as JenStar Partners, Youngtree Partners, Smart Technology Ventures and a number of private investors.
Through its turnkey e-commerce solution, Burbank, Calif.-based CUShopper enables credit union members to purchase products such as computers, home electronics and jewelry online and offline using each credit union's financing. The firm says it currently has about 700 credit union partners, representing 15 million members.
CUShopper.com displays each participating credit union's logo, rates, terms and other information, providing a customized online shopping and commerce environment appropriate to each membership group. The company says it will be adding an automotive buying service, a member's-only travel club, classifieds and auctions. CUShopper delivers each credit union's financing with product orders, now available with instant loan approval, allowing members to shop and take advantage of credit union financing within the same transaction, it says.