PC Universe plugs in new working capital
Online computer gear and electronics retailer PC Universe Inc. has received a round of investment capital and will plow the money back into more web site initiatives.
The company, No. 333 in the Internet Retailer Top 500 Guide, has secured a $2 million private equity investment from Sierra Equity Group Ltd. in Boca Raton, Fla. PC Universe plans to use the proceeds to continue to grow sales, implement new systems and enhance working capital financing.
“We are excited about our first major private equity investment after over 11 years of successful business operations,” says president and co- founder Tom Livia. “We are pleased about our partnership with Sierra Equity Group, who recognizes the value in our company`s business strategy.”
PC Universe launched an updated version of its e-commerce platform in August. The new platform incorporates numerous new features, including improved site navigation, expanded product information and a one-click checkout process for returning customers. The company posted web sales of $13.5 million, up 2.27% from sales of $13.2 million in 2005.
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