The six-year-old floral importer has a commitment for about $25 million. Privately-held Interprise put $28 million into World Commerce in 1999
The new funding will be used to launch FreshPlex, an online marketplace for the international fresh produce industry. The company continues to develop its online networks for global commercial buyers and sellers.
World Commerce borrowed $5 million earlier this year to ease its cash-flow condition. For the quarter ended June 30, the company lost $8.6 million or a 56 cents-a-share drop, on sales of $46,740. That compares with a loss of $1.7 million or 12 cents-a-share decline in the comparable 1999 period.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
