The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
The vendor plans to boost its sales, marketing and product development divisions.
ShopIgniter, which sells software designed to help web merchants generate revenue through social networks, today said it has raised $8 million in funding from new and existing investors.
The vendor says it will use the capital to boost its sales, marketing and product development divisions. Such retailers as Nike Golf and CafePress use ShopIgniter’s platform.
ShopIgniter’s software helps retailers integrate social media functions into e-commerce, either on standalone sites or within Facebook.
New investor Trinity Ventures and existing investor Madrona Venture Group led the vendor’s funding round. In March 2010, Madrona led an initial $3 million funding round.
"With this latest infusion of capital and the addition of a great financing partner, we will continue to define the social commerce market and strengthen ShopIgniter's leading position," says Matt Compton, CEO of ShopIgniter. "We are eager to help retailers and brands extend customer reach and drive incremental sales by embracing the disruption the social web has created in traditional e-commerce."