Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Online shopping networks appear to be paying off for investors, consumers and merchants. (www.shopnow.com) ShopNow.com of Seattle today reported that it expects to exceed analysts' revenue expectations of $10.5 million for the fourth quarter.
ShopNow says it will generate more than 80% of this year's revenue from businesses and merchants during the fourth quarter. In November alone, ShopNow recorded more than 1.5 million orders and leads to merchants and businesses on its network, averaging more than 60,000 orders and leads per day.
ShopNow also says more than 2,000 merchants and businesses joined the network or began using its services in November, bringing the total to 40,000.