HSN Buys Kids’ Clothing E-tailer Chasing Fireflies

Multi-channel retailer HSN Inc. has acquired e-commerce site Chasing Fireflies though its operating segment Cornerstone Brands. The purchase price was not disclosed but HSN said the Seattle-based company (which offers apparel, gifts and accessories for children and babies) had $39 million in revenue last year. Co-founders Dina Alhadeff, Amy Grealish and Lori Liddle will continue to run business and oversee day-to-day operations while working closely with the Cornerstone team, led by CEO Mark Ethier, to drive growth.