Torstar invests in new online shoppping site

Toronto Star parent company Torstar has announced it will invest in, a new e-commerce website targeting Canadian shoppers. The online marketplace offers millions of consumer goods from leading brands in over two dozen categories.

Under the deal, Torstar will acquire an initial 14 percent stake in the company and has committed to increase its interest to 30 percent over 30 months in exchange for up to $6 million in cash and $12.4 million in promotional support.

"E-commerce is an area which is growing rapidly and we are very pleased to be partnering with the management team at to bring a new Canadian alternative to Canadians who shop online," said Torstar president and CEO David Holland.

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