ThinkGeek.com Is Being Absorbed by GameStop

Tsing

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ThinkGeek's online store is shutting down as a result of GameStop's financial troubles. Its catalog of geek-oriented collectibles will be relegated to a section of GameStop's website.

The company has made it clear that the brand isn't going anywhere—at least, not in the immediate future. In fact, 40 of its brick and mortar locations will remain open.

ThinkGeek.com is offering 50% off its entire store for a limited time due to its shuttering. All sales are final, however.

The decision was driven by GameStop’s ailing financial fortunes, and something mentioned in the company’s quarterly earnings call earlier this month. In that call, GameStop CEO George Sherman told investors that it planned to further streamline its ThinkGeek business by rolling its online presence into GameStop’s website.
 

alxlwson

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Holy crap! I didn't even know GS had anything to do with TG.
 

bbenz3

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I've never actually bought anything from Think Geek but always enjoyed browsing the site. Several of the local GameStop stores carry merchandise that is typically found at the Think Geek stores.
 

Brian_B

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Where did GS scrape together the cash to buy TG in the first place
 

alxlwson

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Where did GS scrape together the cash to buy TG in the first place


According to Wikipedia:

"On May 26, 2015, it was announced that pop culture-oriented retailer Hot Topic had made an offer to acquire Geeknet and ThinkGeek for $17.50 per-share, valuing the company at $122 million. However, on May 29, 2015, it was revealed that an unspecified company had made a counter-offer of $20 per-share; Hot Topic was given until June 1, 2015 to exceed this new offer.[6][7][8] On June 2, 2015, it was announced that video game retail chain GameStop had acquired Geeknet for $140 million.[9] The deal was completed on July 17, 2015.[10]"
 

wra18th

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ThinkGeek's online store is shutting down as a result of GameStop's financial troubles. Its catalog of geek-oriented collectibles will be relegated to a section of GameStop's website.

The company has made it clear that the brand isn't going anywhere—at least, not in the immediate future. In fact, 40 of its brick and mortar locations will remain open.

ThinkGeek.com is offering 50% off its entire store for a limited time due to its shuttering. All sales are final, however.

The decision was driven by GameStop’s ailing financial fortunes, and something mentioned in the company’s quarterly earnings call earlier this month. In that call, GameStop CEO George Sherman told investors that it planned to further streamline its ThinkGeek business by rolling its online presence into GameStop’s website.
NOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!
 
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