PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
eVineyard says financial problem made the 7-figure price it paid for a 400,000-name customer base from the dying Wine.com a bargain.
Brett Lauter, vice president and chief marketing office at eVineyard.com, says that the financial problems at Wine.com gave eVineyard.com an opportunity to acquire a strong wine-buying customer base at a very low cost. Some analysts today are saying that surviving dot-com retailers should just let competitors go out of business, rather than buy a dying business because online customers will naturally flow to the remaining online retailers. “Wine.com spent more than $200 million in investment capital building their brand and growing their business and we spent in the seven-figure range to get those people who were their customers,” he says, Lauter declines to give a specific dollar amount. Wine.com has a customer base of 400,000 that eVineyard will market to. eVineyard acquired Wine.com on Friday (see: eVineyard acquires the ailing Wine.com).