Thursday, 28 June 2012

Torstar Announces Investment in Shop.ca

Torstar Announces Investment in Shop.ca
Jun 27, 2012
www.shop.ca
Torstar, the multi-platform publisher, has opened up its wallet to invest in the growing online shopping trend.
Torstar made an investment in Shop.ca, a Canadian online e-commerce marketplace, to the tune of some $6 million in cash and up to $12.4 million in promotional support.
The investment will give Torstar an initial stake of approximately 14% with a commitment to increase its interest to 30% over thirty months based on the company achieving certain performance milestones.

Torstar's promotional support will be provided through its many media properties within Metroland Media Group, Star Media Group and Torstar Digital.
Torstar also operates ShopTV Canada, a direct response TV (DRTV) specialty channel available in the south-central Ontario and Nova Scotia regions.
"E-commerce is an area which is growing rapidly,” said David Holland, President and CEO of Torstar, “and we are very pleased to be partnering with the management team at Shop.ca to bring a new Canadian alternative to Canadians who shop online."
In addition to the investment, Metroland Media Group has entered into a strategic alliance with Shop.ca focused on developing the merchant base engaged with selling goods through the Shop.ca platform.
"We are proud to have aligned with such an experienced industry leader," said Drew Green, Shop.ca CEO and co-founder. "Torstar has a proven track-record of using its media assets to drive online transactions. It is truly exhilarating to work with a partner who shares our vision to improve the online shopping experience in Canada," said Green.
For more Mediacaster Magazine coverage of this topic, please see:
Torstar Uncorks Winefox Website
http://www.mediacastermagazine.com/news/torstar-uncorks-winefox-website/1000478766/
Torstar Digital Names President
http://www.mediacastermagazine.com/news/torstar-digital-names-president/1001189823/

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