Channel | Digital

Cornerworld Corp. has signed a letter of intent to purchase Sway Inc., an online social community marketing services firm, for $30 million in cash and stock.

Yahoo will lay off 1,000 employees, or about 7% of its staff of 14,300, as part of a company realignment, after reporting that its fourth quarter profit was down 23%, according to wire service reports.

Non-travel online retail sales in the U.S. reached $175 billion in 2007, according to a new study from Forrester Research. While the growth rate is not as significant as in years past -- reflecting a maturing channel -- non-travel online sales should hit $335 billion by 2012.

Zazzle, an online marketer, has acquired GoodStorm, a provider of e-commerce services for social causes and nonprofits.

Meg Whitman is stepping down as president/CEO of EBay, effective March 31.

Art Technology Group Inc. will purchase CleverSet for about $11 million.

Though Ron Paul's campaign has certainly demonstrated online fundraising prowess, good old-fashioned direct mail has played a highly unusual role in it, as well -- at times both bad and good for the Republican presidential candidate.

Online shopping in the U.K. totaled 46.6 billion pounds ($91.2 billion) last year, up 54% over 30.2 billion pounds ($59.1 billion) in 2006, according to the Internet Marketing in Retail (IMRG) Capgemini E-Retail Sales Index.

Spending by Saudi Arabian Internet users reached over $3.2 billion last year, according to Arab Advisors Group.

Fortress Financial Group Inc. has appointed Les Smiedt to serve as marketing and advertising consultant to oversee online campaigns and promotions for prepaid credit cards and launches for new debit cards.