Even Hollywood is riding the e-commerce wave. Not getting onto the Shoedazzle boat, investors from Accel Partners have followed up their Birchbox investment with Beachmint. In combination with other investors, $35 million has been raised for the growing number of subscription sites in the Beachmint lineup.
"Today the company is announcing that it’s raised a $35 million funding round with some big-name investors: the round is being led by Accel Partners, with participation from Goldman Sachs, New World Ventures, NYC-based and Millennium Technology Value Partners, with existing investors participating as well. This brings BeachMint’s total funding to a whopping $75 million.
BeachMint, which was founded by MySpace cofounder Josh Berman and Diego Berdakin, has made an art out of launching celebrity-endorsed monthly subscription sites for a variety of verticals, using a model very similar to ShoeDazzle, which launched in 2009.
It remains to be seen if subscription models such as Beachmint can earn our moniker of “exciting commerce” or if turns out to be just another far flung idea. Most notable for now is just how much money is flowing into ideas coming out of Hollywood. More interesting than the subscription model is how exclusive product lines are now being promoted.
By looking at the “Mint Brand Ambassador” jobs currently being offered on the Beachmint website, they are clearly gearing up for high-contact offline marketing efforts similar to the “Stella & Dot style” parties. Thanks to Johannes for the tip.
- Birchbox Raises $10.5 Million for Their Beauty Product Subscriptions
- Birchbox: The Founders Speak About Their Plans
- Shoedazzle Raises Another $40 Million For Subscription Shoe Service
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.