NEW YORK, Dec. 14, 2017 /PRNewswire/ -- It was announced today that Marvin L. Segel, Board Chairman & Founder of New York City-based, Segel Vision, LLC, in association with StarShop, (a celebrity driven shopping App on more than 55 Million devices around the world), has withdrawn his company's offer to make an equity purchase of the operational subsidiary of the multi-broadcast shopping channel, Evine, owned by Evine Live, Inc., a publicly-traded company headquartered in Eden Prairie, Minnesota. Segel Vision was prepared to acquire all of Evine's assets, while preserving its existing tax credits. However, according to Jim Morrison, StarShop's CEO, "After three attempts to present an offer to negotiate a transaction valued at $175 Million Total Enterprise Value, (which in essence, equaled an offer at $2.66 per share), all of which were rebuffed by Evine's Board, Marvin will be investing elsewhere."
To assist in the acquisition of Evine, Segel Vision had retained The Lucas Group, a strategy consulting and private equity investment firm headquartered in New York.
Segel Vision has four proprietary online technology partnerships that will change the face of home shopping as we all know it. Additionally, Segel Vision has created and will soon officially release the only shopping channel of its kind (broadcast and Internet combined), in Spanish, called TuStarShop, in affiliation with TuVisiónCanal.com; an Hispanic social video platform.
About Segel Vision, LLC:
Headquartered in New York, NY, SEGEL VISION, LLC, is the brainchild of Marvin L. Segel, a 25-year veteran in the broadcast shopping industry, building some of the biggest brands on television. StarShop's mission is to reboot shopping by using "Six-Screen Shopping" to create video content with an exciting combination of proprietary technology, YouTubers and celebrities. StarShop's executive team includes Jim Morrison, the past president of L'Oréal USA with nine acquisitions to his name, as well as Philip Gabbard, the co-founder of Tu Visión Canal, the Spanish version of YouTube.
SOURCE Segel Vision, LLC