One Kings Lane Grows 500% In 2010, Takes $23 Million Investment
Kleiner is a previous investor, as is Greylock Partner Reid Hoffman. The size of that previous round was never announced. Previous investors First Round Capital, as well as Hoffman, also invested in this round. As did TriplePoint Capital and Marissa Mayer (this is the first investment by Marissa that we’ve heard about).
The company also says that 2010 sales were up 500% over 2009, and more than 75% of sales come from repeat customers.
One Kings Lane is like Groupon with daily deals, but only handles upscale products for the home. Furniture, bedding, art, stuff like that. I’m a regular customer there, and the good stuff always sells out very quickly each morning.
The Pincus family is turning into a bit of an entrepreneurial dynasty.
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