Subscribe to Print Edition | Tue., March 25, 2008 Adar2 19, 5768 | | Israel Time: 01:42 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Arts & Leisure Business Real Estate Easy Start Travel Week's End Anglo File

RichFx sold for mere $3 million By Guy Griml Tags: Israel It is a soggy end for a once-crunchy startup that raised a cool $60 million during its lifetime: RichFx is being sold, for $3 million. At most. The buyer is rival ChannelAdvisor, and the price tag may be as low as $2.5 million. This week RichFx applied for court protection from creditors. The takeover is expected to take place after the court approves the bankruptcy protection. The startup's slide began a year ago, when the interim financing fund Plenus motioned the court to appoint a temporary receiver to RichFx over a $3 million loan it gave the startup in September 2006. After the company's sale to ChannelAdvisor, RichFx is expected to return $2 million, says Plenus managing partner Ruth Simha. Advertisement In 2006 RichFx, founded in 1997, racked up a few million dollars in sales, but its backers - including the likes of Morgan Stanley and Deutsche Bank - had had enough. At its peak the startup had 130 employees in Israel and the United States. Bookmark to del.icio.us   Love story Israel grants permission for gay Palestinian to join lover in Tel Aviv. Interfaith get-together Saudi King plans first interfaith conference to include Jews.

Today Online Bradley Burston: Ten ways Israel keeps Hamas afloat Responses: 96 Saudi King planning first interfaith conference to include Jews Responses: 110 Yoel Marcus: Golan worth giving away for peace with Syria Responses: 135 Avirama Golan: Bibi's wife versus Spitzer's call girl Responses: 51 Israeli defense sources: Hamas wants to maintain Gaza quiet Responses: 72 Haaretz.com TV: Violence between messianic Jews, Haredim on the rise Responses: 68 More Headlines 21:22 Blair: Middle East peace is a race against time 21:14 Saudi King plans first interfaith conference to include Jews 01:08 Barak approves five mobile homes for Hebron Hills settlement 23:01 IDF arrests top PFLP operative involved in death of soldier 20:47 New law removes statute of limitations from murder of PM 18:40 Israel grants permission for gay Palestinian to join lover in Tel Aviv 18:33 Brooklyn rabbi says beaten by men who shouted 'Allahu Akbar' 01:41 Economic Affairs committee approves: NIS 200,000 fine for spam 01:22 Haaretz's Rosner, Kashti get B'nai B'rith journalism prizes 23:08 Lebanon minister confirms gov't will boycott Arab summit 21:38 Knesset: Criminal records will be expunged after 7 years 19:52 Nazi archive gives digital records to U.S., Israel, Poland museums Previous Editions Select Day 25 mar 24 mar 23 mar 21 mar 20 mar 19 mar 18 mar 17 mar 16 mar 14 mar 13 mar 12 mar

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