Check this out.
Last year in April RetailConvergence raises US$25m to buy smartbargains.com and launches the Vente Privee like private shopping club RueLala.
http://www.thedeal.com/dealscape/technol...
http://www.dealipedia.com/deal_view_inve...

Today GSIC purchase Retail Convergence for US$350m.
http://www.reuters.com/article/pressRele...

And all we see with BFLY management is decreasing sales blamed on the economic crisis. Sad how these opportunities have been squandered!!
It seems that the investment funds really just were after cashing in by short selling and had no serious long term interest or they are like management just not creative or innovative.
The Vente Privee opportunity had been a no-brainer.