Karmaloop finds buyer, names new CEO

By

Obi Anyanwu

Published
May 29, 2015

Boston-based online platform, Karmaloop named a new CEO this week after being acquired by Comvest Partners and CapX Partners. Industry veteran, Seth Haber, former co-owner and director of the Agenda Trade Show, will succeed Karmaloop’s founder Greg Selkoe as CEO of the company.
 

"I have been in this business for a long time and I have worked with most, if not all, of KL's key business partners. I know that we can continue to build on what the company has already done in order to take it to the next level," said Haber.
 
Haber is a native of Brookline, Massachusetts, less than an hour from the company’s headquarters. He worked with Agenda Trade Show for over ten years and left the company following its sale to Reed Exhibitions in 2012.

Comvest Partner Robert O'Sullivan said, "We conducted an extensive CEO search and found a number of highly qualified candidates interested in leading Karmaloop.  Throughout the process, Seth distinguished himself as our number one choice. His passion for the streetwear culture, varied experience in the industry and achievement in building Agenda made him a natural fit for the position."
 
Karmaloop filed for Chapter 11 bankruptcy in March after incurring a debt launching four new business divisions and developing television content. The company received debtor-in-possession financing from from a lending group led by Comvest Partners.