Former Snap chief strategy officer Imran Khan has raised another $12.5 million for his e-commerce startup Verishop, for a total of $30 million raised, sources familiar with the deal confirmed to Business Insider.
Rakuten Ventures, Lightspeed Venture Partners, Madrona Venture Group, and real estate company Simon Property Group participated in the pre-Series B round. The company has raised $30 million to date, with Lightspeed Venture Partners leading its series A round with an investment of $17.5 million in November 2018,
The latest round gives the company a theoretical value of about $100 million, according to a source familiar with the company.focuses on fashion, beauty, and wellness. He's pitched it as a higher-end alternative to Amazon, buying, warehousing, and selling products from the likes of Diane von Furstenberg's DVF, Finders Keepers, and Ursa Major, and ultimately wants to build an affordable luxury version of French company LVMH.
Awesome. Looks like Fab meets Nasty Gal. What could go wrong?