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INTANGIBLE ASSETS, NET | 3 Months Ended
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Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
INTANGIBLE ASSETS, NET | 6. INTANGIBLE ASSETS, NET On March 6, 2024, we entered into an Intellectual Property Asset Purchase Agreement with Zulily ABC, LLC ("Zulily") to acquire certain intellectual property related to the Zulily brand. The aggregate purchase price, inclusive of direct acquisition-related expenses totaled $4.9 million which has been allocated to two major asset categories consisting of $4.1 million, for trade names with an indefinite useful life and $716,000 for customer lists with an estimated useful life of five years. Intangible assets, net consist of the following (in thousands):
| March 31, 2024 |  | December 31, 2023
Intangible assets subject to amortization, gross (1) | $ | 6,047 |  |  | $ | 5,331 |
Less: accumulated amortization of intangible assets | (2,351) |  |  | (2,114) |
Intangible assets subject to amortization, net | 3,696 |  |  | 3,217 |
Intangible assets not subject to amortization | 27,385 |  |  | 22,037 |
Total intangible assets, net | $ | 31,081 |  |  | $ | 25,254 |
___________________________________________ (1) At March 31, 2024, the weighted average remaining useful life for intangible assets subject to amortization, gross was 4.4 years.

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