By CrossCut News
First-of-its-kind Online Fashion Styling Service Profitable in First Year
LOS ANGELES–(BUSINESS WIRE)–ShoeDazzle.com, the online monthly fashion styling service, has announced the completion of its $13 million growth financing, led by Lightspeed Venture Partners of Menlo Park, California, and existing investor Polaris Venture Partners of Boston, Massachusetts. The funding will allow the company to launch related products that will continue to dazzle its members and to accelerate its leadership position in a new business category created by ShoeDazzle.com. This capital infusion brings the total funding raised for ShoeDazzle.com to over $20 million.
“ShoeDazzle is a fashion lover’s dream come true. Not everyone can be a celebrity, but that doesn’t mean you can’t be treated like one. We provide a unique celebrity stylist and boutique feel to every member of our society”
ShoeDazzle.com offers fashion-loving women customized, current styles selected for them by celebrity stylists for $39.95 a month. ShoeDazzle was founded in March 2009 by CEO Brian Lee, who previously co-founded LegalZoom.com, and Kim Kardashian, celebrity and former fashion stylist.
Pioneering a new and innovative online shopping model, ShoeDazzle has already reached profitability in its first year. “Blending online expertise and celebrity fashion, ShoeDazzle.com captures the essence of shopping on Rodeo Drive, while remaining fun, affordable and effortless for its clients,” said Kardashian.
“ShoeDazzle is a fashion lover’s dream come true. Not everyone can be a celebrity, but that doesn’t mean you can’t be treated like one. We provide a unique celebrity stylist and boutique feel to every member of our society,” said Brian Lee, Founder and Chief Executive Officer of ShoeDazzle. “Funding by Lightspeed and Polaris will allow us to accelerate our already rapid growth and to expand our product offering and service to create a complete fashion experience and leverage our platform to help women express their full style potential.”
“I am very excited about the trend towards online shopping as entertainment,” said Jeremy Liew, Managing Director at Lightspeed Venture Partner and newest board member to ShoeDazzle. “In the real world, shopping is fun, and discovering great new products is exciting. ShoeDazzle brings that experience online.”
“ShoeDazzle is breaking ground on a new way of shopping that gives every woman the fun and attention of their own personal shopper at an amazing price point,” said Jason Trevisan of Polaris Venture Partners and ShoeDazzle board member.