Shoebuy Acquires Minority Stake in Boston Boot Co.
Shoebuy, a Boston-based e-commerce shoe retailer owned by IAC, has acquired a minority stake in e-commerce boot maker startup Boston Boot Co., marking the company's first foray into the footwear manufacturing business. Terms of the deal weren't disclosed. "Acquiring a minority stake in a shoe company presents us with a unique opportunity to both expand our business into a different side of the footwear industry and to provide a unique value for our customers," said Shoebuy CEO Mike Sorabella in an email. "This provides us with a chance to be innovative and play in the direct-to-consumer space."