Shoe Package Electricity Supplier Justfab Refinancing $85 Million Valuation Of $1 Billion
JustFab Inc
It is a subsidiary of Intelligent Beauty Inc.. It has 3 brands, including JustFab (shoes, electricity supplier), Fabkids (children's wear) and Fabletics (sportswear), and its competitor ShoeDazzle in August 2013.
The chief executive of the two sides said that after the merger, the company's revenue in 2014 was expected to reach $400 million and make profits, and the revenue in 2015 would exceed $500 million.
According to technology blog PandoDaily news, American fashion business JustFab Inc. raised $85 million in the latest round of financing, making its valuation more than $1 billion, becoming another technology startups with 1 billion dollar valuation club.
Los Angeles
The Passport SPEcial Opportunity Fund of the hedge fund Passport Capital LLC has invested in the current round of JustFab Inc. financing. The existing investors are Matrix Partners, Inc. and Passport in the last round of financing, and Hongkong has invested $35 million.
Since its inception in March 2010, the total financing of JustFab Inc. has reached US $250 million.
JustFab Inc. is a subsidiary of Intelligent Beauty Inc., which owns 3 brands of JustFab (shoes and electricity suppliers), Fabkids (children's wear) and Fabletics (sportswear), and acquired its competitors' ShoeDazzle in August 2013.
The chief executive of the two sides said that after the merger, the company's revenue in 2014 was expected to reach $400 million and make profits, and the revenue in 2015 would exceed $500 million.
JustFab Inc.
Adam Goldenberg, co-founder and co chief executive, points out that the company will use the latest funds to consolidate its financial position, speed up the international expansion of Fabletics, and build new distribution centers in the West Bank, and will enter the field of clothing in the coming year.
He revealed that North American business has been profitable every month since the start of this year. Another joint CEO, Don Ressler, has pointed out that the company's EBITDA profit margin reaches 20% and free cash flow is sufficient.
However, Adam Goldenberg said the company did not have a listing plan before 2015, but the possibility of short and medium term memory is possible.
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