Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Social network ads drive sales
Facebook, Twitter, Pinterest and other social networks have transformed how consumers follow the news, resolve customer service issues and shop, according to The Nielsen Co.'s "State of the Media: The Social Media Report 2012." And, the report suggests, the social networks' ads are leading shoppers to buy. 10% of consumers have made an online purchase of a product they saw advertised on a social network and 8% have made an offline purchase based on one of those ads. The report also found that increasingly consumers are accessing social networks from mobile phones and tablets.