Commerce.TV Corporation

Client Profile
Commerce.TV Corporation (‘Commerce.TV’ or the ‘Company’), a privately held interactive television infrastructure company founded in April of 1999, created a technology platform for television-based commerce. The Company’s proprietary, patent-pending technology infrastructure is designed to enable large numbers of cable or satellite subscribers to conduct commercial transactions for retail goods, as well as provide a natural extension to cable operators’ video-on-demand offerings.
Situation
Commerce.TV had raised $70.0 million through four rounds of financing in developing their proprietary technology, but fell short of budget timeline goals in bringing their product to market. Faced with a liquidity crisis, and a coincidental contraction in the technology venture capital markets, Commerce.TV engaged SSG to explore strategic alternatives for the Company.
Solution
SSG concurrently explored all of Commerce.TV’s strategic alternatives, including a debt refinancing, an equity infusion, merger partner and a sale to a strategic acquirer. The Senior Secured Noteholders of the Company foreclosed on the assets of the Company, which were subsequently sold through Article 9 of the Uniform Commercial Code.