Thursday, August 22, 2013
ShoeDazzle Acquisition By JustFab? Not So Dazzling
That acquisition by JustFab of fellow fashion startup ShoeDazzle yesterday? Not so dazzling. The acquisition valued ShoeDazzle at only around $30M, a huge drop in the company's value, compared with a $240M valuation back in 2011, according to Dow Jones. The report--quoting early ShoeDazzle investor Jeremy Liew, a partner at Lightspeed Venture Partners--also said that only one investor--Crosscut Ventures--actually saw any return from the acquisition. Crosscut, which is headed by Brian Garrett, also is an investor in JustFab. Garrett is also head of another, fashion startup in Los Angeles, StyleSaint, which recently raised a $4.3M funding round.