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Clearance gets acquired for $40M

Acquisition of Ecommerce Clearance.co

Clearance.co is a new ecommerce company that has generated over 400k users for their ecommerce platform. If the capital is spent properly we see huge potential with this project. Clearance.co is running Magento and has been making some interesting waves in the ecommerce space.

Clearance.co, one of the fastest growing start-up ecommerce websites in the world, was acquired by DLPM for approximately USD 40 million in an all-stock transaction which are subject to certain restrictions of resale. The completion of the transaction establishes significant revenue for Development Capital Group while enabling increased funding for marketing initiatives for the Clearance.co brand.

Joseph Ricard said of the acquisition, “The Clearance.co revenue is so compelling at such an early stage of their development we knew we wanted to be a part of that.” Mr. Ricard went onto say, “Clearance is making huge strides as a new ecommerce company, and is setting high records with their current technology. Additional growth will be apparent when we incorporate mobile platforms and integrate the advertising technology such as retargeting. You are seeing a huge shift from retail to ecommerce, and they are doing some pretty innovative things in this space already.”