Money keeps pouring into a new wave of e-commerce startups. The latest news: A big $40 million round for fashion deals website ShoeDazzle.
While a number of companies are trying to add a social element to online shopping, Santa Monica, Calif.-based ShoeDazzle sounds a little more traditional — in some ways, it’s a fashion-focused, personalized spin on the book of the month club that I belonged to in high school. Users fill out a style profile, then the website recommends different shoes, handbags, and jewelry. They can purchase one item each month for $39.95, and if nothing grabs their fancy they can skip the month or request alternate items. Users also earn credits for making purchases and inviting friends.
The company was founded by celebrity Kim Kardashian and LegalZoom co-founder Brian Lee and has 3 million subscribers.
ShoeDazzle has now raised $60 million in funding. The new round was led by Andreessen Horowitz, the firm founded by Marc Andreessen and Ben Horowitz that has quickly become one of the biggest names in venture capital. Existing investors Polaris Venture Partners and Lightspeed Venture Partners also participated.