According to a Form D filed with the SEC, MyShape has raised additional funding. MyShape designs custom online retail stores for you called myShop. myShop displays clothes that were made for your specific measurements.
The company raised funding in July 2007 and October 2008. In the Form D, MyShape claims to have sold $10.5 million worth of equity out of a total of $12.1 million available. Emily Melton of Draper Fisher Jurvetson, Tenaya Capital’s Ben Boyer, and former AOL CEO Barry Schuler both seem to have some sort of involvement in this round.
MyShape was started by Louise Wannier. This past October, MyShape raised about $12 million in funding from Lehman Brothers, DFJ, Pasadena Angels, and Tech Coast Angels.
Just when you thought Lehman Brothers Holdings Inc. (OTC:LEHMQ) was completely demolished, news of their investment in myShape has entered the blogosphere. Lehman led the third round of funding into myShape. myShape is a website where women enter the exact measurements and then browse for clothing. Lehman contributed to the round of funding in August, but filed for bankruptcy in the middle of September.
The total amount of funding is expected to close at $16.5 million with contributions from Draper Fisher Jurvetson, Pasadena Angels, and Tech Coast Angels. myShape plans on applying the funding towards marketing and expansion. So far myShape has raised $12 million.
VentureBeat points out that competition of myShape includes Zafu Inc. and Intellifit Corp. Lehman is currently being investigated for $17 billion in cash and securities investment in JPMorgan Chase and the CEO, Richard Fuld was recently questioned in Congress. Fuld made $500 million from Lehman Brothers since 2000. Lehman liquidated their assets to Nomura Holdings and Barclays plc.
myShape was founded by Louise Wannier. She is currently serving as the CEO of the company as well. Louise has an impressive track record. She co-founded Gemstar U.S. and Europe, then took the company public with a market cap of $500 million. Louise attended school at UCLA, F.I.T. and Caltech.
Every retailer can tell you that customer ratings on web sites are crucial. Reviews can make or break everyday sales of products. Good reviews get sales, bad reviews implies to the vendor to make improved products or provide better services. Little did I know that there is a company that powers a lot of the customer ratings features for many clients.
Tumri Inc.[1], a company that focuses on advertisement personalization services, announced today that they have raised $10 million in funding from several investors. The lead investor was Lehman Brothers Venture Partners[2] and other investors included Shasta Ventures[3] and Accel Partners[4]. With this round of funding, David Kim joined the company as a senior vice president of business development and so did Sandeep Nawathe, the vice president of engineering. The company plans on expanding support sales, marketing, and product development.
“As the first integrated merchandising and advertising network that can intelligently deliver targeted products to online consumers, Tumri is poised to capitalize on a rapidly growing market,“ stated Ben Boyer, the vice president and principal at Lehman Brothers Venture Partners. “Tumri’s vision for interactive advertising is based on a strong technical foundation and we are very excited to invest in this innovative company.”
This service benefits online retailers, publishers, and bloggers. The online retailers have their products featured on the websites of publishers and bloggers. The most recognized service on Tumri is there AdPod feature. AdPod is a widget that is customized by the publisher or blogger and features items from the online retailers. AdPod was built with XML and AJAX. AdPod makes shopping interactive rather than just displaying an item and a link to the retailer.Â
Tumri was started in 2004 and is based in Mountain View, CA. The company was founded by Hari Menon, Pradeep Javangula, James Rice, and Richard Billington.
Every retailer can tell you that customer ratings on web sites are crucial. Reviews can make or break everyday sales of products. Good reviews get sales, bad reviews implies to the vendor to make improved products or provide better services. Little did I know that there is a company that powers a lot of the customer ratings features for many clients.
Tumri Inc.[
