“Blog network Sugar Inc. is trying to transform itself into a diversified media company, with the purchase of another e-commerce startup and a foray into offline entertainment.

Sugar said Monday it had purchased video shopping site Shopflick.com and had also raised $16 million in a third round of funding from Sequoia Capital.
 

Financial terms of the Shopflick acquisition were not disclosed. The startup, which lets merchants use videos to show off goods they want to sell, raised $7 million in a first round from Panorama Capital and Venrock last year.

Sugar said it would use Shopflick to boost another one of its properties—ShopStyle. It purchased ShopStyle in September 2007.”