Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
SourceForge Inc., an online community, e-commerce and software distribution company, reported $23.6 million in e-commerce revenue for the first half of fiscal 2008. The company’s e-commerce business is led by ThinkGeek.com.
SourceForge Inc., an online community, e-commerce and open source software distribution company, reported $23.6 million in web revenue for the first half of fiscal 2008, an increase of 33% compared with $17.7 million for the same period in fiscal 2007. The company’s e-commerce business is led by ThinkGeek.com, an online retailer of toys, games and novelty products for the technologically inclined.
Total revenue for the first six months of fiscal 2008, including online media sales, was $32.2 million, up by 28% compared with $25.2 million in the prior year period.
“We had a solid quarter marked by double-digit revenue growth in both our media and e-commerce divisions,” says Ali Jenab, CEO, SourceForge. “More importantly, we’re putting the right pieces in place to create world-class properties built on a model of engagement and interaction.”
For the second quarter, e-commerce sales were $17.7 million, up by 34% compared with $13.2 million in Q2 of fiscal 2007. Total revenue for the quarter was $21.9 million, up 28% from $17.1 million in the prior year quarter.
SourceForge’s network of web sites serves 32 million unique visitors each month, the company says, and includes ThinkGeek.com, No. 295 in the Internet Retailer Top 500 Guide; SourceForge.net; Slashdot; Linux.com; Freshmeat.net; ITManagersJournal and NewsForge.