Minnetonka-based e-commerce firm Digital River is shutting down, laying off 122 employees locally and winding down global operations due to financial strain from customer contraction, unfavorable trade policies, and rising costs. Despite early success and an $840 million acquisition by Siris Capital in 2015, the company struggled with cash flow challenges, short-term deals, and operational expenses, leading to the suspension of services for most global customers. CEO Barry Kasoff acknowledged efforts to consolidate operations but stated that no viable path forward remained, prompting the company’s closure.
Minnetonka-Based E-Commerce Firm Digital River Shuts Down
