Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The company helps retailers launch Facebook stores and reach consumers via social media.
Moontoast LLC, a company that sells social commerce technology, today said that it had raised $6 million in a funding round. Venture capital firm The Martin Cos. led the funding round, which also involved existing investors.
Moontoast did not say how it would use the capital. The company’s technology helps retailers to sell and interact with consumers on social networks. Besides enabling online music sales via Facebook, for instance, Moontoast helps retailers and brands boost their social commerce capabilities through such methods as blogs, widgets and videos.
“We believe there is a fundamental shift occurring in digital commerce,” says Les Wilkinson, managing director of The Martin Cos. and a member of the Moontoast’s board. “Consumers expect opportunities for engagement and commerce to be delivered to them, and brands are struggling to determine how best to respond. We continue to be impressed with Moontoast’s approach to this shift.”
Moontoast says it launched its social commerce platform in 2010. Recently, the company helped TNA Impact Wrestling, a division of TNA Entertainment Inc., launch a Facebook store.