Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Third-quarter revenue at Buy.com, the online mass merchant discounter, rose 52% year-over-year, the retailer said today. It attributed the increases to aggressive web marketing and an expanding number of product vendors.
Revenue at Buy.com, the online mass merchant discounter, rose 52% year-over-year for the third quarter ended Sept. 30, the retailer said today.
Neel Grover, president, attributed the growth to Buy’s aggressive Internet advertising and its expansion of consumer product vendors. Buy, a privately held company that does not reveal sales or revenue figures in dollar terms, said its most heavily promoted and top-selling product categories include digital cameras, camcorders, digital music players, printers, and computer storage.
91% of Q3 sales were in consumer technology goods, including consumer electronics, software, computers and wireless products, while 9% were in entertainment and leisure products including books, videos, toys and music downloads, a spokeswoman says.
Buy adds that Q3 revenue rose 8.7% over the second quarter. Q2 revenue rose about 25% over the year-ago quarter, it says.