Kim Kardashian's ShoeDazzle gets $40 million in funds
LOS ANGELES (Hollywood Reporter) - Kim Kardashian's website ShoeDazzle.com has just received $40 million in financing from Menlo Park firm Andreessen Horowitz.
The reality star, boutique owner and designer—who is responsible for creating a line for Bebe, a QVC collection K-Dash and her own Belle Noel jewelry line—is also behind ShoeDazzle's innovative members-only site.
The website, which offers a personalized selection of shoes, handbags and jewelry to subscribers for a monthly flat rate of $39.95, has already secured $20 million in funding since 2010 from firms Polaris Venture Partners and Lightspeed Venture Partners.
The new funds will allow the company to expand significantly. Kardashian's business partner Brain Lee told WWD "we are launching in the U.K. in the next couple of months," and intends to also reach the South American and Asian marketplaces.
ShoeDazzle currently has 3 million members and has seen celebrity collaborations from stars such as "Glee's" Kristin Chenowith and "Scream 4's" Kristen Bell.
(Editing by Zorianna Kit)
- UK's Cameron shifts tack on constitutional shake-up to mollify Scots
- U.S. immigration protesters drop U.S. border blockade plan
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Islamic State closes in on Syrian town, refugees flood into Turkey |
- Selling Mitch McConnell: What's love got to do with it?