STYLECLICK GETS $15M, SHUFFLES MANAGEMENT
Byline: Valerie Seckler
NEW YORK — Styleclick is thinking bigger.
The e-commerce service provider revealed Thursday it has just secured a $15 million revolving credit line from its majority owner, Barry Diller’s USA Networks Inc., acquired the technology platform of defunct sports e-tailer MVP.com, and made several changes in senior management.
The moves reflect an effort by Los Angeles-based Styleclick to find a faster path to profit, partly by being able to handle e-commerce for big brands distributed through multiple channels, with the addition of the new technology and funds. Further expected to aid in the effort, a spokeswoman for Styleclick said Thursday, is the extension of the firm’s services to customers of USA’s Electronic Commerce Solutions unit. That business, in contrast to Styleclick, has focused on sales of tickets to entertainment events — often as part of broader marketing deals with players like NASCAR.com, the PGA tour, and CBS SportsLine — rather than on enabling the e-tailing of merchandise.
“With the acquisition of the MVP technology,” said the spokeswoman, “we are immediately able [to accommodate] big brands that have major traffic in multiple channels, rather than having to build e-commerce sites from scratch.”
To aid in the campaign, Styleclick has named Lisa Brown, currently president and chief executive officer of USA’s ECS unit, as its ceo, while Robert Halper, ECS’s executive vice president of operations and finance, has been tapped as president and chief operating officer. Brown succeeds Maurizio Vecchione, who resigned as ceo of Styleclick and relinquished his seat on the board, after 13 years with the dot-com, according to the company. Halper succeeds Ed Zinser, who resigned from his post of chief operating officer, Styleclick said. Brown and Halper will retain their posts at ECS.