In September, 2017, the assets of giggle, Inc. were assigned to an assignee for the benefit of creditors. The assignee engaged Hilco Streambank to assist him in the sale of giggle’s intellectual property assets, which included the premium domain name giggle.com, trademarks, additional domain names, the design library for giggle’s proprietary products and customer data. We were also engaged to market the intellectual property assets of Right Start, a company purchased by giggle in 2016. Right Start’s assets included trademarks and domain names, including the premium domain names babyshower.com and rightstart.com. Following the marketing process for these assets, the assignee decided to relinquish his interest in the intellectual property to permit the secured lender, Gordon Brothers Brands, LLC (GBB), to pursue an Article 9 foreclosure of its collateral. Hilco Streambank was engaged by GBB in February, 2018, as its agent in connection with the foreclosure sale of its collateral, which included giggle’s intellectual property and giggle’s equity interests in Right Start.
Hilco Streambank developed marketing programs both for the assignee as well as on behalf of GBB in connection with the foreclosure sale. Spanning the process conducted on behalf of the assignee and the foreclosure sale conducted on behalf of GBB, we reached out to potentially interested parties to advise them of the assets available for sale and populated virtual data rooms containing confidential materials regarding the intellectual property. In connection with the marketing efforts conducted on behalf of the assignee, Hilco Streambank also prepared a teaser giving potentially interested parties detail regarding the intellectual property.
The foreclosure sale was conducted at the end of February, 2018, and the assets were conveyed pursuant to a bill of sale in early March, 2018.