Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Strong results follow an announcement for a planned IPO.
In gearing up for its planned initial public offering of stock, CaféPress Inc. says its total revenue rose significantly in the first half of the year.
For the six months ending June 30, CafePress, a web-only retailer of customized products such as T-shirts, coffee mugs and baby clothes, reported:
- Web sales increased 45.8% to $69.4 million, compared with $47.6 million in the first six months of last year.
- Net loss was $1.0 million, versus net income of $100,000 in the first half of 2010.
- Spending on marketing increased 74.7% to $16.6 million from $9.5 million in the same period of the prior year.
- Spending on technology and development dropped 7.0% to $6.6 million from $7.1 million in the first six months of 2010.
- Spending for general and administrative expenses increased 29.8% to $6.1 million, compared with $4.7 million in the first half of 2010.
- The average order value was $50, compared with $46.50 in the first half of 2010.
- The total number of customers jumped 33.3% to 1.2 million from 900,000 in the first six months of 2010.
- The total number of orders increased 40.0% to 1.4 million, compared with 1.0 million in the first six months of 2010.
CafePress, No. 122 in Internet Retailer’s Top 500 Guide, announced in June that it expects to raise up to $80 million in an IPO. It plans to use the proceeds from the stock sale for general corporate purposes, including working capital and capital expenditures.
CafePress released its latest financial information in a recently updated IPO filing with the U.S. Securities and Exchange Commission.