eCommerce - Wednesday, March 26, 2008
RichFX Salvaged By Channel Advisor For $3.1M After It Blew Through $60M
RichFX was bought for $3.1M by rival ChannelAdvisor. RichFX had raising $60M from venture capital funds. To some extent this is a win for the startup as it had filed for Chapter 11 last year. ChannelAdvisor is also well funded, having raised $50M.
RichFX has rolled through any number of business plans. It currently hosts rich media assets, primarily for eCommerce companies.
Richfx Handiwork
RichFX was founded in 1998. At one time, the company had 130 employees and was bank-rolled by 18 firms, a list which includes RealNetworks, Itochu, and Israeli tech giant Yossi Vardi.
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