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Investor, Andreesen Horowitz Leads $40 Million in Series D Funding Round for Shoe Dazzle
May 17th, 2011 1 comment
Based in Los Angeles, California, Shoe Dazzle has become one of the world’s leading personalized shoe shopping site and has announced on May 16, 2011, that it has secured $40 million in a series D funding round led by investor, Andreesen Horowitz. Other investors who participated in this massive funding round include Polaris Venture Partners and Lightspeed Venture Partners. Upon condition of this funding round, general partner at Andreesen Horowitz, John O’Farrell, will be joining the company’s board of directors.
Shoe Dazzle is an e-commerce site which personalizes the shoe shopping experience for each individual shopper who logs onto the site. The website offers members to register and create an account and thus personalize the shopping of the shoes that best match their lifestyles. Joining the Shoe Dazzle online community is free, and you can receive personalized shoe recommendations every month and you still don’t pay anything until you place your first order. You can also see real clients of the site on video and hear about their experiences online.
As a member of Shoe Dazzle, you can also earn style credits, which are a sort of bonus point system and allows you to gain and accumulate these credits for every purchase you make on the site and you can also gain free credits for everyone you recommend to the site who registers and enrolls in the program.
Shoe Dazzle has a wide variety of different women’s shoes, which include high heals and also matching purses and handbags, as well as some fine jewelry. High heals are not the only shoes that Shoe Dazzle offers, however. You can also order casual chic tennis shoes and more. The selection of the casual tennis shoes that Shoe Dazzle offers is also amazing. Some of these shoes are athletic, whereas others are street sneakers which have a glittery leather or canvas which women can wear out in the town and to the dance floor. Others are high tops and the matching possibilities are endless.
When registering on Shoe Dazzle, women have a huge selection of shoes to choose from. There is an amazing selection of high heal pumps, laced shoes, and even boots. You can choose from any one of these and you can also choose the accessories that match a pair of shoes that you like as well. This includes purses, handbags, jewelry, and even some name-brand cosmetics and perfumes, which include some of the world’s top brands, including Channel. Women who log onto Shoe Dazzle can also choose from a wide variety of fashionable dresses and outfits that match the shoes and other accessories. Women can actually choose their own wardrobe on this website.
When a woman creates her profile on Shoe Dazzle, she can choose her age group, shoe size, dress size, and then after entering their email and placing a password, they are in. It’s that simple.
With this large investment round, the total amount of capital Shoe Dazzle has raised since its inception has now reached a collective amount of over $60 million. Proceeds from this funding round is to go to help the company expand its marketing efforts throughout the US and globally. The funding will also allow for the continual feeding of new fashions and styles to customers, which they have grown accustomed to getting on the site. The company also plans to introduce all kinds of new products and more shoes and other fashions available to current and new customers.
According to the founder of Shoe Dazzle, Brian Lee, Andreesen Horowitz is an investor who searches for market leaders. The firm is a prestigious investment firm and the fact that Andreesen Horowitz has provided such a massive investment shows how they are endorsing the company’s business model, which has grown to be very successful and as of now Shoe Dazzle boasts of having over 3 million customers.
Praises of Shoe Dazzle and its highly successful business model also come from the general partner of Andreesen Horowitz, John O’Farrell, who will also join the board. According to Mr. O’Farrell, Shoe Dazzle has everything his firm is looking for when making an investment. The driving force that made his decision in leading Andreesen Horowitz to finally invest in the company is that it is anchored in a solid and strong management team. Mr. O’Farrell further added that as a market leader and being one of the pioneers in the growing social shopping network market, the company is poised for substantial future growth.
Andreesen Horowitz is an investment firm that was founded by Ben Horowitz and Marc Andreesen. The firm is based in Menlo Park, California and both cofounders have been entrepreneurs themselves and have founded LoudCloud, which has become one of the largest cloud computing service providers. Andreesen Horowitz primarily invests in companies who are in the consumer and enterprise industries. Some of the companies in the firm’s portfolio include Boku, Pay by Mobile, Facebook, Skype, Twitter, Zynga, GoodData, PiCloud, and others.
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