BlueFly Raises $6.5 Million

Bluefly, Inc. raised approximately $6.5 million through the sale of newly issued common stock to entities affiliated with Rho Ventures, Soros Fund Management LLC, and Prentice Capital Management LLC from Bluefly at a market price of $1.80 per share. Rho Ventures is now the largest shareholder, owning approximately 37%, on a fully diluted basis. The cash will be used to promote growth of online presence.