Adam Goldenberg And Don Ressler’s Contribution At JustFab
Adam Goldenberg and Don Ressler founded JustFab in March 2010. This small company did not have adequate financial power to concur the world of e-commerce. The two co-CEOs of the company embarked on a funding campaign to secure the necessary financing for their brainchild. Their campaigns were successful with the company securing over $100 million in funding in just two years of its founding. The retailer of shoes, handbags, denim, and jewelry now owns other companies such as FabKids and Fabletics. The corporation has operations in North America and Europe.
Justfab received its first funding in 2011. The $33 million was sourced from Matrix Partners, a US venture capital firm. Less than a year later, Matrix Partners collaborated with Rho Ventures, Intelligent Beauty, and Technology Crossover Ventures, to fund the subscription retail company with an additional $76 million. The two rounds of funding enabled the start-up to expand its operation to the UK, Canada, and Germany. This expansion enabled the company to increase its sales. The company was also able to make its first acquisition in 2013. It acquired FabKids, a children’s fashion subscription company.
Adam and Don continued with their third round of funding. The co-founders planned to use the capital to introduce new product categories and accelerate the growth of the company. The company managed to raise $40 million in this round of funding. The last round of funding was conducted in August 2014. Passport Special Opportunity Fund led the funding drive. Other participants in the round were Matrix Partners, Shining Capital, and Technology Crossover Venture. Overall, the company had a total capitalization of over $250 million. JustFab used this opportunity to expand its operations into more countries. Recently, the company changed its name to TechStyle Group. Its headquarters are based in El Segundo, California.
Adam Goldenberg and Don Ressler are entrepreneurs with loads of experience in the fashion subscription industry. The two executives have gone on to establish other notable companies such as Fabletics, Intermix, and Intelligent Beauty. These companies have greatly benefited from the visionary leadership offered by the two successful and shrewd businessmen. They are always determined to succeed in all their endeavors. http://perezhilton.com/tag/don_ressler/