HauteLook Announces Newest Investors
Key online business visionaries Matt Coffin and Allen Debevoise join a round led by Insight Ventures
New York, NY (PRWEB) June 3, 2009 -- HauteLook, the exclusive members'-only shopping club, today announces two new investors--Matt Coffin and Allen Debevoise. Following the announcement of a $10 Million venture capital financing in May 2009, HauteLook is pleased to add these two internet visionaries to the capital round.
"We are extremely excited to have Matt and Allen support our raison d'etre, which is giving our club members access to the best apparel and lifestyle brands at the best prices possible. While Matt is a consumer advocate and has a unique understanding of how to provide consumers value, Allen has a tremendous amount of experience in community building and platform development," said Adam Bernhard, CEO.
"As an active investor, it is rare to find a platform with such a strong and relevant win-win value proposition where both the brand and the customer have so much to gain. HauteLook has done an exceptional job at leveraging this dynamic into a business with terrific traction. I am excited at the opportunity to be involved," said Coffin.
"I am excited to be a part of a company whose business model is new, unique, and exciting and a model which has the potential of reshaping on-line e-commerce," said Debevoise.
HauteLook was founded by Adam Bernhard (CEO), and Lagovent Ventures Group Partners Brett Markinson and Konstantin Glasmacher.
Matt Coffin is a Los Angeles-based internet entrepreneur and investor. He was the Founder of LowerMyBills.com, which sold to Experian for $330 million. Following Experian's acquisition of LowerMyBills, Coffin served as president of both Experian Interactive Online Customer Acquisition Services and the Experian Interactive Innovation Center. Coffin was an Ernst and Young Entrepreneur of the Year award winner in 2007 and was Southern California's Entrepreneur of the Year in 2006. Coffin has served on the Board of Directors for Business.com, which sold for $320 million, and is an investor in the Rubicon Project, Demand Media, Mahalo, DocStoc, eBureau, Inadco, CyberRain and BillShrink.
Allen Debevoise is the Chairman and CEO of Machinima.com and serves on the boards of Dealer.com and TrueSlant.com. Previously he served on the boards of LowerMyBills.com, iVillage and Creative Planet, which he co-founded. Prior to Creative Planet, Allen was president and CEO of TCI Interactive, TCI's interactive investment vehicle, where he executed investments in Sportsline, iVillage and Interzine. Debevoise lead the initial team for AOL in the formation of TMZ.
ABOUT HAUTELOOK
HauteLook is an exclusive private shopping club, which offers its members branded goods at 40-75 percent off of retail prices. The company operates a marketplace in which premium fashion & lifestyle brands host their own 36-72 hour private sales. HauteLook, which launched to the public in December of 2007, currently operates Women's, Men's, and Kid's fashion, as well as Home verticals.
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