Barry Schuler, Managing Director of DFJ Growth Fund (former Chairman/CEO of AOL)Joins MyShape Inc. Board of Directors
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MyShape Revolutionizes Online Shopping with New Personal Shop Features, Social Shopping, Expert Measurement System GLENDALE, Calif.--(Business Wire)-- MyShape (www.myshape.com), the only Personal Shop for women on the web, announced today that Barry Schuler, Managing Director of DFJ Growth Fund, has joined the Board of Directors of MyShape Inc. MyShape as part of its expansion strategy has secured its third VC round of funding led by DFJ Growth Fund which specializes in expansion stage companies that are deemed to have $1B+ potential. This round also includes follow on investment by Draper Fisher Jurvetson, Tenaya Capital (formerly Lehman Brothers Venture Partners), Pasadena Angels and Tech Coast Angels. According to Barry Schuler, "We believe MyShape is on the leading edge of the next wave of ecommerce. The Personal Shop offers consumers a breakthrough experience that makes online apparel shopping extremely convenient and solves the biggest problem buyers face-`will it fit?`" Schuler is the former Chairman/CEO of America Online Inc. (AOL) and is considered one of the pioneers of the Internet. His experience in ecommerce dates back to the earliest interactive shopping products including "2Market" and the breakthrough AOL Shopping Channel. MyShape offers each member her very own Personal Shop-offering a rich assortment of fashions that flatter her shape, match her measurements and reflect her style from over 200 designers, who now have a unique channel to customers. "We are now set to significantly scale our marketplace and partnerships throughout the industry," said MyShape CEO, Louise Wannier. "We are thrilled to have Barry Schuler, former Chairman/CEO of AOL, on our board with his record as a key visionary for the Internet." MyShape has continued its rapid growth momentum with a 5x growth over the past 14 months. With nearly 700,000 members, MyShape`s average order size is double the industry average with a repeat business up over 50%. The Personal Shop consistently delivers what the shopper really wants supported by a 98% customer satisfaction rating. New cutting edge social shopping allows members to invite friends to shop and comment on their selections just like they would offline. The "Outfit Builder" lets shoppers mix and match looks to create an outfit and see what others have created. Style Me is a destination for personalized style know-how, featuring a range of insider information, from adapting international runway trends for each shape to helping women develop their own signature style. A shop by designer feature previews an expanded list of new fashion brands. MyShape`s new revolutionary, user-friendly expert measuring system allows members to enter in a few key measurements with an animated guide-instantly predicting the rest of their body measurements and cutting total measurement time to mere minutes. Insights were collected from MyShape`s database, the largest collection of women`s measurements, style and fit preferences. About MyShape MyShape is the only Personal Shop for women on the web. An innovative women`s fashion shopping site, MyShape provides each member with her own Personal Shop filled with clothing that matches her measurements, body shape, and fashion and fit preferences. The Personal Shop and the ShapeMatch systems are protected by international patents. MyShape reaches millions of women to provide them with an effortless way to shop for apparel that fits and flatters. For more information, visit http://www.myshape.com/. Inspiring Minds Communications Norma Kelly, 818-509-0575 nkelly@inspiringmindscom.com or Carla Sameth, 626-564-0163 carla@inspiringmindscom.com Copyright Business Wire 2009
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