JustFab and ShoeDazzle Merge To Create A $400 Million Business
JustFab and ShoeDazzle has merged. The combined revenues of both companies are expected to be over $400 million next year, according to ShoeDazzle chief executive officer Brian Lee. They are also expected to hit profitability on an operating basis next year. ShoeDazzle focuses primarily on shoes and JustFab sells a broad range of products.
“Ecommerce is all about that mass scale,” stated JustFab co-chief executive Adam Goldenberg. “Having that scale allows us to work with the very best factories.”
The terms of the deal were undisclosed.
JustFab investors Rho Ventures, Matrix Partners, Technology Crossover Ventures, and others put in around $109 million into the company. ShoeDazzle investors Andreessen Horowitz, Lightspeed Venture Partners, Polaris Venture Partners, and other investors put $66 million into the company.