BestBuy.com Leads $22 Million Investment in etown.com
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BestBuy.com (BBY) and ZDNet (ZDZ) were joined by investors including Sands Brothers, Gruber & McBaine Capital Management, Bedford Oak Partners, LP, and Valor Capital Management, LP. With this round of financing, etown has been injected with a total of $25.5 million.
etown.com said it will use the funding to add more tools and functionality to its online store. Features are set to include enhancements to the IDA Shopping Advisor, as well as expansion of its editorial content. In addition, etown.com will launch a consumer advertising campaign to increase awareness of its offerings.
As part of the investment agreement, etown.com's editorial content will be integrated into ZDNet's Equip site and Tech Life channel.