Browse Category: Business

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/

 

 

 

Adam Goldenberg On Why JustFab Became TechStyle Fashion Group

Adam Goldenberg recently appeared on CNBC to discuss a change to his company, JustFab. The company was rebranded as TechStyle Fashion Group just this last year, a move that Goldenberg and his co-CEO Don Ressler made because of how he perceives the fashion shopping model is changing. Goldenberg’s company has opened physical retail stores and plans to open more in the future, so shopping in outlet malls is not likely to change. But online branding is something that spurred the popularity of JustFab, and big data analysis in running the company’s inventory has become a mainstay, that Goldenberg and Ressler decided to name the company TechStyle Fashion Group as a signature of what happens when technology meets fashion shopping.

 

Adam Goldenberg has always been a man who has used technology and marketing to his advantage, starting his first company when he was only 15 years old called Gamer’s Alliance. This company became quite a phenomena, and digital media agency Intermix Media decided to buy it and hire Goldenberg on their technical team. Goldenberg had just barely completed high school when he went to work for Intermix Media, and at only 20 years old he became the company’s chief operating officer. While there, he also met the founder of FitnessHeaven.com, Don Ressler who would become Goldenberg’s friend and primary business partner.

 

Goldenberg and Ressler began experimenting with various brands and e-commerce business ideas while still at Intermix Media, and they came up with the idea to launch Alena, an e-commerce store that became a hit when MySpace was founded. But in 2005, News Corp took over Intermix Media and Alena went by the wayside. Unhappy with the new management, Goldenberg and Ressler decided to leave the MySpace parent company. In 2006, they founded Intelligent Beauty through which they started several health and beauty product brands.

 

Goldenberg and Ressler decided to become fashion salesmen in 2010 when the idea for JustFab started taking off. It began with some ideas from friends of theirs in the fashion industry, and soon evolved to hosting functions and other meetings. But the idea to run a VIP member company along with affordable merchandise also resonated well with celebrities such as Kimora Lee Simmons, and later actress Kate Hudson who has become the face of subsidiary Fabletics. As of today, JustFab has become fully independent of venture capital funding and is also valuated at over $1 billion. https://twitter.com/adamgoldenberg?lang=en

Jason Hope, The Futurist From Arizona, Shares His Ideas About Businesses

Anyone who known Jason Hope will tell you that he is a skilled futurist. However, his belief in the influence of the Internet of Things (IoT) is remarkable. He believes that the future of the modern society lies in IoT. This is because almost all devices are becoming connected. His understanding of technology is profound. Hope takes advantage of this to try and predict where the technological industry is heading. In a private interview with Inspirery.com, the philanthropist tells more about himself and his businesses.

Which books have inspired him?

The entrepreneur states that, because his mind is technology oriented, he doesn’t spend much time reading books in hardcopy. However, Hope reads scientific articles from the internet on a weekly basis. He shares whichever article he finds interesting on his social media pages. He mentions that he only reads about what he is currently focusing on, which is the desire to accelerate human intelligence through technology.

What does the future hold for his business? What excites him most?

Being a futurist, Hope always looks forward to next level technology. This is what excites him. Currently, he is passionate about anti-aging processes that help prevent Alzheimer’s and Parkinson diseases. Most of his research, therefore, goes into curing these diseases. The entrepreneur believes that the future will rely on building technology that will help eradicate these diseases before they get to irreversible levels. According to Hope, preventing a disease helps society to improve as a whole.

What marketing strategies does he use?

Apart from referrals, the philanthropist explains how social media has helped him market his services. He states that, if used correctly, social media really works. The reason that it never fails is because, it is a marketing tool that keeps people connected. Business connections can, therefore, be generated using social media. Hope goes on to single out Twitter as a powerful platform to share the news.

Did he doubt himself when he started?

Yes, he did. Hope mentions that it is perfectly normal for any person that is starting a business to doubt himself. To him, this is what keeps one on his toes, and forces him to think ahead. Coming up with a new idea, concept, or product will bring its own challenges. Hope explains that it is the mark of a successful entrepreneur to handle these challenges well. As one goes on, he will be faced with a lot of failures. He should handle them courageously.

Learn more about Jason Hope and his insights on Investing.com.