TOP NEWS Acquired By Sugar, Inc.

Los Angeles-based, an online video fashion marketplace, has been acquired by San Francisco publisher Sugar Inc., Sugar said Monday afternoon. Financial terms of the acquisition were not disclosed. According to Sugar, will become part of its ShopStyle social shopping destination for women, with founder David Grant becoming president of a new, Los Angeles-based unit called Sugar Digital Entertainment. Sugar said that Sugar Digital Entertainment will focus on online video, television, film, videogames and other content formats. Shopflick was venture backed by Panorama Capital and Venrock, and raised $7M in July of 2008; Sugar is backed by Sequoia Capital, which just put $16M into the firm as part of the acquisition.