The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Michael Steib had led the U.S. arm of Vente-Privee.
XO Group Inc., owner of wedding retail and information sites TheKnot.com and WeddingChannel.com, has a new president. Michael Steib starts his new job today after spending nearly two years as CEO of Vente-Privee USA, an offshoot of France-based online private sale retailer Vente-Privee.com.
XO Group is No. 477 in the new Internet Retailer Top 500 Guide, while Vente-Privee holds the No,. 11 spot in the just-released 2013 Europe 500. American Express Co. owns part of Vente-Privee USA, which launched in 2011.
Before taking the Vente-Privee job, Steib worked at Google Inc., most recently as managing director, emerging platforms.
“His background building and leading successful businesses around digital platforms and marketplaces is exactly what we need to continue disrupting the wedding industry," says David Liu, XO’s CEO. "Our goal is to tap into a greater portion of the $70 billion wedding market than our current business does today. Mike gives us fresh perspective and a track record of rigorous execution, both of which will help us drive the success of our ambitious mission.”