the fashion electricity supplier website JustFab announced recently completed a $85 million round of financing. Outside of the company’s valuation also increased to $1 billion.
Pando.com according to foreign media reports, the U.S. fashion electricity supplier website JustFab announced recently completed a $85 million round of financing, by the new investor Passport Special Opportunity Fund lead investor, existing investors Shining Capital, Matrix Partners, Technology Crossover and Ventures with the cast.
at this point, was founded in 2010, Justfab raised a total of $250 million of funds, the company’s valuation of the outside world also increased to $1 billion. However, its co-founder and CEO Adam Goldenberg declined to comment too much on this valuation.
Goldenberg said, we are a professional retailer, we design their own products and inventory. This is a capital intensive industry, by strengthening our balance sheet, we can continue to provide favorable conditions for more to the supplier, improve inventory capacity, to support our better development, accelerate the internationalization of our business. The company’s most famous service is to send a pair of new shoes every 30 days, the service fee of $39.95 per month. In addition to shoes and boots, they also sell handbags, jeans, sportswear and children’s clothing and other goods. Last year they acquired their rival ShoeDazzle.
Goldenberg acknowledged that after this round of financing, they themselves and investors are hoping Justfab will have the opportunity to grow into a market capitalization of $30-40 billion company. This year’s revenue is expected to reach $400 million JustFab, active users are also expected to go from the end of the year to 150 Wanda to $3 million.
JustFab currently has four e-commerce brands JustFab, ShoeDazzle, Fabletics and FabKids. Goldenberg hopes JustFab2015 revenue reached more than $500 million. He revealed that JustFab’s business in North America has been profitable. Which was established only 1 years of Fabletics brand (flagship brand sportswear) growth rate has exceeded the year JustFab.
Goldenberg acknowledges that JustFab may be recent IPO. Last year, another clothing website Zulily completed IPO, also gave JustFab enough confidence.