The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Arun Rajan joins the flash-sale home furnishings retailer from Amazon-owned shoe retailer Zappos.com. The move comes just a few days after the retailer raises $112 million.
One Kings Lane announced today it has named e-commerce veteran Arun Rajan chief technology officer. Rajan comes to One Kings Lane from Zappos.com where he spent more than four years in the same role, leading all aspects of technology for the company.
In his new role, Rajan will manage data infrastructure and web site operations, and also recruit employees for the retailer’s technology teams based in San Francisco. Zappos is owned by Amazon.com Inc., No. 1 in the Internet Retailer Top 2013 500 Guide.
“As One Kings Lane continues to grow at rapid pace, Arun is the ideal person to lead our technology strategy and help us achieve our vision of becoming the leading lifestyle brand for the home,” says Doug Mack, CEO of One Kings Lane.
During his time at Zappos, Rajan helped the retailer use technology to change Zappos.com from a site focused mainly on shoes to one that featured a wide range of apparel and accessories, One Kings Lane says. He also helped the retailer migrate to a more robust warehouse management system that could scale for the retailer’s growth.
Prior to joining Zappos, Rajan was the co-founder and chief technology officer of targeted ad provider Intent Media. Other former roles include chief technology officer of online travel agency Travelocity Europe/lastminute.com and co-founder and chief technology officer of ITRadar.com, an information technology marketplace connecting buyers and sellers of information technology services. Rajan spent the early years of his career as a software engineer developing airport operations management systems.
“I was drawn to this unique opportunity to help take One Kings Lane’s technology organization to the next level, Rajan says.
The move comes just a few days after One King Lane, No. 120 in the Internet Retailer Top 500 Guide, announced it received $112 million in a Series E funding round led by New York-based Mousse Partners, a new investor. The new funding nearly doubles the amount the retailer has so far raised, to $229 million.
Based on this latest fund-raising, investors now value One Kings Lane at $912 million, a spokeswoman for the e-retailer says.
One Kings Lane employs more than 500 people across its offices in San Francisco, New York and Los Angeles.