Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The ratings-and-reviews provider plans to buy competitor PowerReviews.
Bazaarvoice Inc. this week reported revenue of $31.4 million for the fiscal fourth quarter of 2012, ended April 30, up 63% from $19.3 million last year. The financial report is the first from the ratings-and-reviews provider since it announced it would buy competitor PowerReviews Inc..
Bazaarvoice said its net loss for its fiscal fourth quarter stood at $6.4 million, up from $4.7 million for the same period a year ago.
“The fourth quarter marked a strong finish to fiscal 2012," says Brett Hurt, founder and CEO of Bazaarvoice. "Our momentum is being driven by the expanding reach and capabilities of our platform, the combination of which delivers significant value to our retail and brand customers. Online word of mouth content already plays a critical role in consumers' purchasing decisions, and we believe that we are still in the early stages of transforming the $12 trillion retail industry.”
For fiscal year 2012, Bazaarvoice reported:
● Revenue of $106.1 million, up 65% from $64.5 million in the previous year.
● A net loss of $24.3 million compared with a net loss of $20.1 million in the previous year.
Bazaarvoice expects to close the PowerReviews deal by July 24.