HardwareStreet.com Closes $5.5 Million in Private Funding
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HardwareStreet.com, an online retailer of more than 100,000 brand-name computer products and accessories for business and consumers, completed a private placement for $5.5 million in convertible debentures.
The company said it will use the funds to execute a comprehensive strategic business plan and to prepare for an IPO later this year. BlueStone Capital Investment acted as the placement agent.
"This funding validates our Internet retailing strategy, and provides a foundation for ongoing growth," said Joe Popolo, president and CEO of HardwareStreet.com Inc.
The company, which recently launched an Affinity Partners program, said it plans a more comprehensive range of direct marketing, strategic partnership and advertising programs and is introducing site enhancements to improve the customer shopping experience.