Home furnishings retailer Dot and Bo is closed.

After three years of operation, the web-only retailer posted a message on its home page Friday, announcing it would cease operating at the end of the day.

“We were in deep discussions to be acquired by a prominent public company, but ultimately the partnership did not come to fruition,” Dot and Bo posted on its site.

Dot and Bo had approximately $50 million in annual sales, founder and CEO Anthony Soohoo told Internet Retailer in a recent interview. Dot and Bo recently announced it would incorporate online payment service Affirm Inc. onto its site in October. The service functions as a loan that allows shoppers to pay for a purchase, often a large-ticket item, in installments rather than paying the full amount up front with a credit card. Affirm charges an interest rate to shoppers between 10-30%.

“Affirm was not aware of the possible acquisition,” an Affirm spokeswoman says Monday. “Ultimately, this will not impact Affirm's business.”  More than 700 merchants use Affirm.

Soohoo and other Dot and Bo representatives could not be reached for comment.

In the past 12 months, 14.7 million U.S. consumers visited DotandBo.com, according to data from digital analytics firm SimilarWeb. On average between June and August, 1.11 million U.S. consumers visited the site each month, and traffic has not had any major downturns this year, according to SimilarWeb data.

Dot and Bo’s web traffic is a fraction of online-only home furnishing retailer Wayfair Inc., which reported $2.04 billion in web sales in 2015 and ranks No. 24 in the Internet Retailer 2016 Top 1000 Guide. In the past 12 months, 433.2 million U.S. consumers visited Wayfair.com, and between June and August, 38.33 million U.S. consumers visited Wayfair.com each month, on average.

Dot and Bo geared its products toward millennials, who generally are defined as those born between 1980 and 1998, and 60% of Dot and Bo’s shoppers were under 45, Soohoo says. Dot and Bo displayed its products “catalog style”—set up in a room as consumers often seen in print catalogs, to show shoppers how to put a look together and in hopes of selling more than one piece, he says.

(Source: internetretailer.com  Author: APRIL BERTHENE)