Perfume.com’s parent raises $5.1 million in private financing

Communicate.com Inc., which owns and operates Perfume.com, has completed a private placement of common shares for 2.55 million shares at a price of $2 per share.

Participants in the financing included institutional and select individual investors, including Communicate.com chairman and CEO Geoffrey Hampson and the company’s newly appointed president and chief operations officer, Jonathan Ehrlich.

Net proceeds will be used to accelerate growth of the company’s e-commerce businesses to develop and monetize web sites from its roster of web properties, to support potential strategic acquisitions, and for general working capital. In addition to Perfume.com, No. 469 in the Internet Retailer Top 500 Guide, other web sites include Boxing.com, Call.com, Brazil.com and Importers.com.

“The fact that we have been able to complete this financing under difficult market conditions is a validation of the potential represented by our assets and the management team we are assembling. I believe we are now positioned for the next phase of our growth and can concentrate on getting more aggressive with the execution of our plan,” Hampson says.