iTurf Inc., a network of Web sites focused on
Generation Y, is acquiring college hub OnTap.com in a deal valued at $18 million
plus and will operate it as a subsidiary.
iTurf will issue 1.6 million shares of its Class A common stock (it closed
Friday at $12.625) to the selling shareholders in a tax-free exchange.
ITurf’s network includes dELIAs.com, gURL.com, TSISoccer.com, contentsonline.com, discountdomain.com, droog.com, dotdotdash.com and StorybookHeirlooms.com.
iTurf itself is a
subsidiary of dELiA*s Inc.
OnTap.com, formerly known as TapOnline.com, is relaunching this month with
on-campus promotions, a multi-million dollar student marketing campaign and
on-campus student representatives. The TapOnline site claims more than 7.2
million student visits last year.
OnTap.com offers 10 different content communities — Entertainment, Hot
Forums, V-Dorm, Career Center, Breakaways, Lifestyle, Freeform, Gaming,
Sports and Technology — each with its own editorial style driven and
directed by students across the country.
OnTap.com has an exclusive alliance with MarketSource Corp., a marketing
services company focused on the Generation-Y market.
