Auctionbytes-NewsFlash, Number 130 - July 31, 2001 - ISSN 1539-5065      | Next Story

By Ina Steiner
AuctionBytes.com
July 31, 2001
Reading AuctionBytes: GoTo.com Sells ChannelAdvisor to Management

GoTo.com sold ChannelAdvisor back to its management team. ChannelAdvisor provides tools and services for businesses selling on e-marketplaces, including eBay, eBay Stores, Yahoo and Amazon Auctions. GoTo will retain a significant minority interest of 18.5% as well as a position on the ChannelAdvisor Board of Directors. Additional terms of the transaction were not disclosed. "The establishment of ChannelAdvisor as an independent corporation gives our experienced team the opportunity to take our marketplace management solutions to the next level," says Scot Wingo, chief executive officer and President of ChannelAdvisor Corp. ChannelAdvisor customers include West Marine, Memorex, Omaha Steaks and BargainBuilder. http://www.channeladvisor.com.

In related news, two separate securities class action lawsuits were filed against GoTo on behalf all persons who acquired GoTo.com securities between June 18, 1999 and December 6, 2000. One case, Happy-Kat v. GOTO, et al, (01-CV-6951), is available from the Wolf Haldenstein Adler Freeman & Herz LLP Web site at http://www.whafh.com.
http://dailynews.yahoo.com/h/nf/20010720/tc/12182_1.html