TV Goods Inc. has acquired AsSeenOnTV.com and toll-free number 866-AsSeenOnTV for $5 million in cash and stock from Seen on TV LLC.
“It’s a solid business and it makes good sense to own it,” said Kevin Harrington, chairman of TV Goods. “They’ve got 2 million customers, 700,000 email subscribers and 78,000 page views a day. It is a site that, the way it is today, is a multimillion dollar business. We’re going to take it to the next level.”
Harrington said the deal will allow TV Goods to “drive many more subscribers.” He predicted AsSeenOnTV.com will “reach 10 million customers and go to millions of email subscribers,” with the support of TV Goods.
TV Goods is working with Delivery Agent, a transactional TV company, to handle all aspects of AsSeenOnTV.com technology, including platform development and deployment.
AsSeenOnTV.com recently launched “Video Deals of the Day.” The service includes mobile applications that allow consumers to make purchases from their mobile devices and campaigns that let TV viewers click-to-buy directly from their remote controls. Products promoted by rapper and actor 50 Cent and professional wrestler Hulk Hogan are already live on the Video Deals of the Day site.
Steven Rogai, CEO of TV Goods, will run the day-to-day operations of AsSeenOnTV.com and the toll-free number. Both will retain their brand.
Harrington said the acquisition will not result in layoffs and that staff will be added “to produce the Video Deals of the Day.” He would not reveal how much annual revenue the assets drove, but he said the business “at its peak was shy of $10 million.”
A Seen On TV LLC spokesperson could not be reached immediately for comment.