Media - Thursday, September 4, 2008
Fashion's Stylesight Raises $16M In 1st Round
NYC's Stylesight has raised $16M in a first round from Fidelity Ventures. The site is meant to be a hub for fashion designers and marketers to congregate and communicate about their fashion lines and trends.
What is a bit shocking is how much coverage has been lent to this endeavor and yet nobody gets it. What is the model here?
The startup was founded back in 2004 so while this is a first round, the company must be pulling in revenues and a shot at profitability. The management team certainly doesn't stand out as being a tech savvy bunch - mostly folks who come out of the fashion biz.
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This is a trendspotting service. We see these guys at all the tradeshows. I'm a bit surprised at that much money flowing through, as they don't really seem differentiated. I'm guessing they have enough people buying their service to have some cash flow.
Posted by: C at September 4, 2008 09:59 PM
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