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eCommerce - Wednesday, March 26, 2008

RichFX Salvaged By Channel Advisor For $3.1M After It Blew Through $60M

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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.

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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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