Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Buy.com’s new online mall and social network aims to drive purchases with cash back, discounts and peer-to-peer recommendations. The virtual mall now offers more than 3 million home, beauty, CE and entertainment category products.
Yub.com, the Buy.com’s online mall and social network offering that debuted with eight retailers in February, says it will feature a total of 50 retailers by the end of this month. The YubMall offers products and merchants in the home, beauty, consumer electronics and entertainment categories, and rewards users with up to 25% cash back incentives for purchasing through the site.
“The YubMall is growing at a phenomenal pace," says Jared Morgenstern, Yub.com president. “We strive to continually offer the retailers that consumers are seeking and to create a real-life mall experience for our members that provides the added benefits of instant peer feedback as well as cash-back incentives.”
The virtual mall now features more than 3 million products from online retailers. The shopping mall allows registered members to add product “raves” to their personal profiles and recommend items to other members. One new feature is an interactive mouse-over tool that lets members scrolling the mall see the most recent product recommendations of their peers in each store.
The program rewards both recommending mall members, who register at no charge, and the buyers of recommended products with a 1% reward or discount on any item purchased from mall retailers. A premium YubClub program for frequent shoppers lets members earn up to 25% cash back every time they shop.