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 ...
The e-retailer plans to increase its network of online sellers.
Online jewelry merchant Chloe + Isabel has raised $15 million in a Series C funding round led by SoftBank Capital. Existing investors General Catalyst Partners, First Round Capital, Forerunner Ventures and Floodgate Fund also took part.
The company sells its own jewelry and operates a network of some 4,500 sellers, or “merchandisers,” who can buy a business-starter kit from the retailer and create their own e-commerce “storefronts,” Chloe + Isabel says. It says the new capital will go toward increasing “Chloe + Isabel's community of micro-entrepreneurs both domestically and internationally, as well as to further enhance product categories.”
The web-only retailers says that 75% of its sellers are under the age of 35 and that they can earn $50 to $400 per hour, with commissions to those sellers ranging from 25% to 40%.
"Chloe + Isabel's innovative scalable tools and training offer a true social-selling experience and provide an entrepreneurial opportunity for today's woman," said Scarlett O'Sullivan, Partner at SoftBank Capital. "We were drawn to the merchandisers' stories and the way in which Chloe + Isabel's disruptive selling platform, customized marketplaces and high-quality products are impacting merchandisers' lives and allowing them to attain whichever goals they set for themselves.”