Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The company expects to generate $700 million in revenue in 2012.
Online marketing firm ValueClick Inc. increased its fourth-quarter revenue 41.8% year over year to $182.6 million, the company says.
ValueClick operates comparative shopping sites Smarter.com and PriceRunner.com, online coupon site CouponMountain.com and affiliate marketing network Commission Junction, which is used by 215 merchants in Internet Retailer’s Top 500 Guide, including Amazon.com Inc. (No. 1), Staples Inc. (No. 2) and Apple Inc. (No. 3).
ValueClick also reported for the three months ending Dec. 31, 2011:
• Revenue from the company’s technology segment was about $9.5 million, up more than 11.5% from $8.5 million in the same period last year.
• Revenue from the affiliate marketing segment increased 10% to $39.8 million from $36.2 million in the fourth quarter of 2010.
•Revenue from the media segment was $92.7 million, up 122% from $41.7 million in 2010.
• Revenue from owned and operated sites was $40.9 million, down 4.4% from $42.8 million in the fourth quarter of the prior year.
• Net income was $29.4 million, an approximate increase of 39% compared with $21.1 million from the fourth quarter of 2010.
"We completed a successful 2011 with strong fourth quarter results, including media segment results that were driven by 20% organic growth in our display business, double-digit growth in the affiliate marketing and technology segments, and very strong performance by our recent acquisitions," says Jim Zarley, CEO of ValueClick. The company acquired display ad firm Dotomi in August for $295 million.
For the full year ending Dec. 31, ValueClick reported:
•Total revenue was $560.2 million, up 30.0% from $430.8 million in 2010.
• Revenue from the company’s technology segment increased 16.0% to $37.0 million from $31.9 million in the prior year.
• Revenue from the affiliate marketing segment was $139.4 million, a 12.3% increase compared with $124.1 million in 2010.
• Revenue from the media segment increased about 63.3% to $224.6 million from $137.5 million in the prior year.
• Revenue from owned and operated sites was $159.8 million, a 15.4% increase compared with $138.5 million in 2010.
• Net income was $101.1 million, an 11.7% increase compared with $90.5 million in 2010.
The company expects to bring in $700 million in revenue in 2012, Zarley says.