Like.com Raises $32 Million Series C From Menlo Ventures, Crosslink Capital, BlueRun Ventures, and Leapfrog Ventures
Like.com, the visual search engine started by Munjal Shah, Burak Gokturk, and Azhar Khan has raised a substantial round of funding. Like.com raised $32 million in Series C from Menlo Ventures, Crosslink Capital, BlueRun Ventures, and Leapfrog Ventures. Through this round of funding, Prazan Vazirani from Menlo Ventures joined the Like.com Board of Directors.
Through this round of funding, Like.com is believed to be above a $100 million valuation. Employees that have shares in the company also had the opportunity to sell shares through the funding process as well. Like.com launched in November 2006 and their strongest service is matching goods that are displayed in a picture.
Like.com made about $1 million in revenue in about one year. Now they are making about $20 million. And they are planning to launch a UK version of the site. The company also created an iPhone application called LikeThis that allows phone users to take a picture of an item and find similar items for sale.
A few months ago, Like.com started placing ads on Facebook that matched fashion products that linked to a user’s profile picture. For example, if I was wearing Oakley sunglasses on my profile picture, the ad will appear alongside with sunglasses that look very similar.
LikeThis is also available on the Like.com website for testing. To test it out, I uploaded a picture from Entourage. Then I highlighted the shoes of the guy in the green shirt (center). After uploading, Like.com will ask you which attributes are most important to you between Color, Shape, Pattern, or all three equally. I selected all three are equally important to me. Like.com asked for my e-mail to let me know when they are done analyzing the photo.
Once I get an e-mail back, I’ll let you know how accurate the results are. Look for an update on this post.
Update: Below are the results