Bluefly Lands $15 Million Investment
New York–based fashion e-tailer Bluefly Inc. reached a deal with investment firm Rho Ventures to purchase $15 million in newly issued Bluefly stock at $1.70 per share. About $4.7 million of the investment was closed upon execution of the deal with the remainder scheduled to close during the first quarter of 2010, subject to approval of Bluefly stockholders. Once the deal is complete, Rho Ventures will be Bluefly’s largest shareholder, with a 33 percent stake in the company.
