The growing number of influential Weibo commentators are increasingly opening their own online shops or promoting products.
Members-only online retailer ideeli Inc., which does all its business through special sale events, has raised $20 million in capital. Three venture capital firms supplied the new funding.
Members-only online retailer ideeli Inc., which does all its business through special sale events, has raised $20 million in capital.
Three venture capital firms, StarVest Partners, Constellation Growth Capital and Kodiak Venture Partners, supplied the new funding.
“Ideeli’s shopping community resonates strongly with their current membership, which is 97% women,” says Laura Sachar, StarVest Partners general partner. “At StarVest Partners, the largest female-run venture capital firm, we immediately understood the power of ideeli’s engaging, interactive forum.”
Ideeli, which launched in 2007, says it has more than 1.3 million members. The site offers sales in a range of categories, including accessories, apparel, travel and beauty.
“This investment is an affirmation of ideeli’s successful model, rapid revenue growth and our expanding number of members and brand partnerships,” says Paul Hurley, ideeli CEO.