Vestiairedecopines.com finds new investors
As predicted, Vestiairedecopines.com finished 2011 by obtaining new investors. This time, the capital investment is significantly higher and amounts to 7.5 million euros, versus 1.5 million during its sophomore fundraising effort and 400,000 euros during its initial one. According to Le Figaro, with this investment the site is now valued at between 20 and 25 million euros.
The U.S. venture capital firm Balderton has invested 5.5 million, while existing investor Ventech put up the remaining 2 million. Thierry Gillier of Zadig & Voltaire is also an investor. Balderton is renowned in the online world and its portfolio includes sites such as Yoox, Justyle, Chinese auction site, and Wonga, a British site. Bernard Liautaud, a partner at Balderton Capital, former co-founder and CEO of Business Objects joined the Executive Board of Vestiairedecopines.com. "We took two years to understand the business model. Now we must move fast internationally," said Sebastien Fabre, co-founder of the site, acknowledging the delay. While he had intially intended to launch a local site in the UK, he now has teams working on a much broader plan: a comprehensive site with a prospective name change. "We are working on a new name that would be truly global and that would reflect the idea of community," he said. The manager also cites Germany and the Scandinavian countries as a priority.
Like Asos, eBay and Videdressing.com, Vestiairedecopines gives consumers the opportunity to sell their gently used clothing and accessories. Unlike some of its competitors, the site processes all packages using its own personnel. Today, Sebastien Fabre wants to be able to quickly analyze the flow between sellers and buyers in different countries. It is estimated that 17% of the site’s members live outside of France. Vestiairesdecopines, the "social shopping" site, boasts more than 600,000 members.
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