Zappos gets $15 million in new equity funding
Zappos.com Inc., a retailer of footwear and other products, has secured $15 million in new equity funding from Sequoia Capital to help maintain sales that are expected to reach $300 million this year, up 63% from $184 million in 2004, Zappos said.
The funds will be used to “improve the customer experience” while supporting continued growth, said Zappos, No. 45 in the Internet Retailer Top 400 Guide to Retail Web Sites.
Sequoia Capital now has a total investment in Zappos of $35 million. “We are more enthusiastic than ever to be shareholders of Zappos.com because of their unrelenting focus on service and their execution since we made our original investment eight months ago,” said Michael Moritz, a Sequoia partner who sits on the Zappos board.
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