BUY.COM FOUNDER BUYS BUY.COM

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(Aug. 13, 2001) -- Buy.com, one of the Internet's leading retailers, has been bought by company founder Scott Blum by way of what is being called a merger between Mr. Blum's company, SB Acquisition. and Buy.com.

SB will pay 17 cents per share for the company, based on Friday's closing price, for a total cost of $23 million. As part of the deal, SB Acquisition is providing the company with immediate interim financing of $9 million.

Buy.com, once an Internet high-flyer with a market cap in the billions, had received a delisting notice from Nasdaq last month. -- Catharine P. Taylor

Copyright August 2001, Crain Communications Inc.

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