Monday, June 1, 2009
Shopflick.com Acquired By Sugar, Inc.
Los Angeles-based Shopflick.com, 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, Shopflick.com will become part of its ShopStyle social shopping destination for women, with ShopFlick.com 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 ShopFlick.com acquisition.