Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Internet retail sales for IAC/InterActive rose by 24.7% to an estimated $987.4 million in 2007 from an estimated $792 million in 2006. In 2007, the web represented 33% of IAC’s retailing revenue vs. 27% in 2006.
Internet retail sales for IAC/InterActiveCorp. rose by 24.7% to an estimated $987.4 million in 2007 from an estimated $792 million in 2006.
In 2007, the web represented 33% of IAC’s retailing revenue vs. 27% in 2006. IAC says its annual web sales number is for its total Internet demand, which IAC includes as a figure in its top-line retail sales number. The Internet demand represents gross sales before cancellations, returns and cash discounts and excludes shipping and handling revenue.
In the fourth quarter web sales rose by about 10% to an estimated $316.9 million, from an estimated $288.3 million in Q4 of 2006. For the full year, IAC reported total retail sales of just under $3 billion and $905 million in the fourth quarter. “During the quarter HSN continued to improve sales efficiency across the majority of its product categories,” IAC says. “The number and average spend of customers grew, while the total number of active customers remained relatively flat.”
For the fourth quarter IAC posted a net loss of $369.9 million on revenue of $1.9 billion compared with net income of $153 million on revenue of $1.7 billion in Q4 of 2006. For the year, IAC, No. 26 in the Internet Retailer Top 500 Guide, reported a net loss of $144.1 million on sales of $6.4 billion vs. net income of $187.1 million on revenue of $5.9 billion in the prior year.
IAC’s online brands include Shoebuy.com, Home Shopping Network’s HSN.com, and the former Cornerstone Brands companies, including BallardDesigns.com, FrontGate.com, GarnettHill.com, ImprovementsCatalog.com, SmithandNoble.com, TerritoryAhead.com and Alsto.com.