As reported by the British media on the weekend, the home furnishings website mydeco.com received capital investment from eVenture Capital Partners in a third financing round. Burda had already invested in a previous round:
"Brent Hoberman has attracted investment from the German backer of Groupon and Angie's List for his online home furnishings website in a move which values the business at more than £35m.
The investment is the third fundraising by mydeco's parent company, By Design (UK). Investors supporting previous fundraisings include Burda of Germany and the Rothschild family.
Mydeco is an aggregation site which allows users to browse items, such as furniture or wallpaper, being sold by other retailers and provides 3D imaging software to enable users to see how they would look in their homes."
With its advanced and somewhat complex feature set, mydeco was for a long while for Exciting Commerce something like a Boo.com reloaded. In other words, a well thought out concept which although very slick, was too far ahead of its time.
This all changed with the iPad. mydeco is arguably the ideal type of website for the tablet user interface. Now the question has become whether or not mydeco can hold out long enough until a critical mass of tablet-toting home furnishing fans is achieved.
eVenture Capital Partners had already invested in another home furnishing site myfab (operating in Germany and France) prior to their financing of mydeco. And mydeco has already been using the marketplace technology provider from Ixtens for a while now, which is also financed by eVC Partners.
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.
I get a flriay decent number of legitimate-but-random commenters, who will definitely disappear when this change is implemented. I'm sure something needs to be done about the huge volume of worthless commenters, but I wonder if there is some alternative (word verification, etc.) to Typepad.
Posted by: Jam | 02/21/2012 at 01:36 AM