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BeachMint Raises $10 Million For Celebrity-Endorsed eCommerce

December 23rd, 2010 12:40 admin View Comments

Back in October we wrote about JewelMint, a new subscription jewelry site endorsed by Kate Bosworth and her stylist Cher Coulter. The site represents the first vertical for Santa Monica-based startup BeachMint, and it’s apparently doing well — less than three months after launching, BeachMint just landed a new $10 million round, which comes in addition to the $5 million it raised last summer. The round is being led by Trinity Ventures, with participation from Stanford University and existing investors New Enterprise Associates and Anthem Ventures.

That was fast. BeachMint was only founded in June by Diego Berdakin and MySpace cofounder Josh Berman, both of whom previously headed News Corp’s incubator Slingshot Labs. But the two founders claim they’ve seen “astonishing growth”, and they’re eager to use this money to expand to new verticals.

JewelMint is a lot like ShoeDazzle, the shoe site endorsed by Kim Kardashian. Upon signing up, JewelMint will present you with a brief quiz, which it uses to recommend a few pieces of jewelry based on your taste. Each piece of jewelry is designed by Bosworth and Coulter, and they’re available exclusively through JewelMint.

Buy something and you’ll be signed up for a subscription, which costs $30 a month. Each month you’re given a credit to use toward a single piece of jewelry, and if you don’t like any of the pieces recommended to you, you can skip and wait until the following month (you’re only charged when you order something). If you want to try it out, JewelMint is extending a special offer to TechCrunch readers — use the gift code Nerd15 and you’ll get 50% off.

Berdakin says that since launching JewelMint, BeachMint has increasingly found itself focusing on the technical side of things as it looks to hone its recommendations. “We’re sort of like a Pandora for shopping”, he explains, because the site tries to match customers with items they’ll like. This also boosts switching costs, because customers won’t want to leave their taste profiles behind.

Berdakin and Berman won’t talk revenue numbers or specify which verticals they’re targeting next, but they say we should expect more news in January. They also say that the company is going to continue to match celebrities with each new vertical because it’s proven so effective (they point out that Kate Bosworth and JewelMint have already been featured in numerous glossy magazines).

The company currently has a headcount of twenty, which it plans on doubling over the next couple months.

Source: BeachMint Raises $10 Million For Celebrity-Endorsed eCommerce

Can ShoeDazzle Finally Make Celebrity Co-Founders Pay Off? (TCTV)

December 9th, 2010 12:19 admin View Comments

According to CrunchBase, we have never written about 18-month old ShoeDazzle despite the fact that the company has raised $23 million in two rounds of funding, expects it’ll do $100 million in revenues next year and has Kim Kardashian as a co-founder.

Ok, maybe it’s partially because of that last factor. The Valley has always had an issue with LA and vice-versa. Let’s be honest: We loved it when MySpace fell to Facebook and love it even more when a celebrity fails at our game.

But I don’t think we’ll have that guilty-pleasure with ShoeDazzle. Social commerce is the rage and Jeremy Liew called this company the most underrated in his portfolio. Here’s how it works: You sign up for the site and answer a fun survey about your style. And every month ShoeDazzle’s stylists pick some things out for you. The genius of the model is each pair costs just $39.95, and you can skip a month and pay nothing with no repercussions.

ShoeDazzle can be so cheap because it is manufacturing and designing all its own shoes, and allows celebrities and users to design shoes too. It’s like a combo of CD clubs, Zappos, Threadless and H&M.

It was started by Brian Lee, whose first company LegalZoom is planning to go public next year. I caught up with him in Hollywood to find out more about the company and why he says more LA startups don’t make it big. Video is below.

Source: Can ShoeDazzle Finally Make Celebrity Co-Founders Pay Off? (TCTV)