From Sugar’s blog post:
– “Sugar is launching Sugar Digital Entertainment, an LA-based unit that will expand the Sugar brand into online video, television, film, video games and other content formats. David Grant, former President of Fox TV Studios, Exec VP of the FOX Network and founder and CEO of Shopflick.com, joins Sugar as President of SDE with a mandate to work with talent and media partners on Sugar-branded projects.”
– “Sugar has acquired Shopflick.com, the video-powered fashion marketplace founded by Grant in 2008. Shopflick is a pioneer in online video-driven shopping, with a critically-acclaimed brand that has quickly built a following with both designers and shoppers. Shopflick will enable Sugar’s ShopStyle — the leading social shopping destination for women — to pioneer a new video-driven commerce offering for its merchant partners.”
– “Sugar also announced that it has completed its Series C funding by securing $16M from existing investor Sequoia Capital. Sugar intends to use the funds for acquisitions and international expansion to support the company’s growth into a major media company targeted to women’s lifestyle. In conjunction with the transaction, the Company has repurchased shares sold in 2007 to NBC Universal.”
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