Retailers shift their ad spending from TV, radio and print ads to digital ads.
It's said you can buy just about anything online at eBay. Now, you can buy an Internet retailing company as well. The web site Underneath.com, an online seller of underwear, went up for auction on eBay this week. Minimum bid for the 6-person, privately held C-corporation is $3.8 million, the amount of an offer the company already had received from another retailer. The auction, believes CEO Jeffrey Johnson, may drive up the price. The auction will last a week, but the Atlanta-based firm's move on eBay already has the attention of competitors. Rick Ross, president and CEO of myUndies.com, is circulating an email encouraging buyers eyeing Underneath.com to take a look at myUndies as well.