Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
The company ships monthly boxes of products for moms and children.
Citrus Lane, an e-retailing subscription service for parents and pregnant women, said today it has raised $5 million in a funding round.
The California-based company, which launched about a year ago, ships monthly packages of four or five items to consumers who pay $25 per month. The items inside the boxes are recommended by other moms; consumers also can provide the age and gender of their children to further guide product selection, or select a subscription option that focuses on pregnancy items, but customers don’t know what they’re getting until they open the shipment. Products come from such brands as Green Toys, Weleda, Zoli and Episencial.
The new capital came from GGV Capital and Greylock Partners. “With that investment, we’ll have the resources to add new team members and expand our business,” says Mauria Finley, CEO and co-founder of Citrus Lane.
The company’s leadership has noteworthy e-commerce experience. Between 2008 and 2010, Finley was senior director product management, buyer experience front end, for eBay Inc. Before that, she was senior director, product marketing for PayPal, according to her LinkedIn profile.
Claire Hough, chief technology officer and co-founder of Citrus Lane, comes from comparison shopping engine Nextag Inc. Her various jobs there included president, new verticals; senior vice president, engineering; and vice president of product management.