SAN FRANCISCO Jan 30 One Kings Lane, the online
home-furnishings company, has raised $112 million, catapulting
it into an elite group of venture-backed companies valued in the
The funding round puts the company's worth at $912 million,
according to a spokeswoman for One Kings Lane.
The round was led by Mousse Partners, whose chairman Charles
Heilbronn would join its board, the spokeswoman said.
"TYSM!" meaning "thank you so much," the One Kings Lane
Twitter feed responded to a venture capitalist who on Thursday
congratulated the company on the funding round.
San Francisco-based One Kings Lane, founded in 2009, is
taking aim at brick-and-mortar furniture chains such as Pottery
Barn and Williams-Sonoma.
It joins other privately backed Silicon Valley businesses
whose valuations are hovering around $1 billion or more. They
include cloud-based storage services such as Box and Dropbox,
online music service Spotify, and online food-delivery service
Other venture-backed online retailers haven't done as well.
ShoeDazzle, a subscription-based service, struggled with a
business model and was sold to JustFab last year.
Another online retailer, Fab, laid off about 250 staffers
last year as its Web traffic fell and it ditched flash sales in
favor of a more standard retail model.
Current backers of One Kings Lane include Kleiner Perkins
Caufield & Byers, Greylock Partners, and Tiger Global
Management. It last raised $50 million at the end of 2012.