Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Internet surfers using online gift currency Flooz are more likely to buy from online merchants, says Flooz CEO Robert Levitan. Speaking today at Faulkner & Gray's CardTech/SecurTech Conference in Miami, Levitan said the typical Web site conversion rate for online shoppers is 1.5%. For shoppers looking to spend their Flooz, that conversion rate jumps to 12%, says Levitan. He also announced a marketing agreement with Chase Manhattan Corp. to offer visitors to its Web site free Flooz for Mother's Day.