Valuations & Acquisitions: Sharks Are Circling, Blood’s in the Water

Perpetual loser RedEnvelope, also operating in Chapter 11, was sold to Provide Commerce, which agreed to acquire the troubled marketer’s assets on May 27. Yawn. Put it this way: Remember in “The Godfather, Part II” when Michael Corleone described adversary Hyman Roth as, “dying of the same heart attack for 20 years?” That rings true here. Haven’t we heard RedEnvelope’s tale of woe before?