[June 2] Fashionmall.com has
acquired the domain name and fashion retailing business of
boo.com following the sale
of boo.com’s e-commerce software to
Bright Station.
Visitors to boo.com are now immediately diverted
to the U.S. fashion portal, a popular site that combines an
online shopping mall with fashion content.
Few details about the acquisition were available early
Friday, but it is clear that fashionmall.com will reap
a huge initial increase in page accesses.
In a statement, fashionmall.com said it was very proud
to announce its acquisition of boo.com and would be “working
diligently over the next few weeks to position Boo as the
ultimate global fashion portal – to deliver all the great
things you loved about Boo.”
Fashionmall.com goes on to invite visitors to send in their
suggestions and to check back later for “our all new Boo.com.”
Fashionmall.com, which is operated by fashionmall.com, Inc.,
derives its revenue mainly from selling space on its site
in the form of leases, advertising and sponsorship. It
prices these short-term (3-12 month) leases on a
cost-per-click basis and gets paid for the traffic it
sends to its clients’ sites.
With revenues up from $219,000 in 1996 to $3,690,000 in 1999,
fashionmall.com has shown a respectable growth, if not
the meteoric success of many other Internet enterprises.
Having reportedly paid more for the boo.com business than
the £0.25 million paid by Bright Station for Boo’s
e-commerce software, fashionmall.com will be looking to
turn its acquisition into a springboard to the European
market.
However, by far the greater part of boo.com’s massive
investment was in e-commerce technology development,
the results of which are not part of the deal with
fashionmall.com.
