Tuesday, August 5, 2008
eStyle Sells To RightStart
Los Angeles-based eStyle, the online retailer of maternity and baby products, has been sold to an affiliate of infant and toddler products retailer RightStart. The deal was worth $6.4M. According to Alexander B. Kasdan Company Limited, which is the financial advisory arm of Convergence Capital Partners, the sale came as part of a U.S. Bankruptcy Court judgement on July 16th. eStyle had filed for bankruptcy protection in March. RightStart is backed by Los Angeles-based private equity firm Hancock Park Associates; eStyle was backed by Goldman Sachs, GRP Partners, Maveron, Oak Investment Partners, Primedia, Vulcan Capital, and Zone Ventures. eStyle--a high flying Internet boom era firm--at one time had model Cindy Crawford on its board of directors. The firm had raised more than $100M in venture funding.