Groupon says its focus is on the bottom line, rather than top-line growth.
The company, which owns JewelMint.com, plans to double its staff.
BeachMint, a start-up e-commerce operator, today said it had raised $10 million. Funding came from Trinity Ventures and Stanford University, along with existing investors New Enterprise Associates and Anthem Ventures.
BeachMint operates the e-commerce site JewelMint.com, an online jewelry club similar to book-of-the-month membership plans. Customers who pay $29.99 per month receive a new jewelry item each month, plus style tips and personalized recommendations. BeachMint says the site sells jewelry designed by actress Kate Bosworth and stylist Cher Coulter. My Space co-founder Josh Berman and entrepreneur Diego Berdakin established BeachMint.
The company plans to use the funding to hire staff and launch new e-commerce efforts with other celebrities. "We're on fire and looking to hire aggressively,” Berdakin says. “We couldn't be more excited about this space and its potential. The company currently has a headcount of 20, which we're planning on doubling over the next couple months."