January 12, 2011 08:45 ET
Skype-Founder Zennstrom Joins Global Fashion Initiative Through Investment Fund Atomico
Fashiolista Secures $0.5M Investment From Atomico Ventures; Skype-Founder Zennstrom Joins Global Fashion Initiative Through His Investment Fund
LONDON and AMSTERDAM, NETHERLANDS and RIO DE JANEIRO, BRAZIL--(Marketwire - January 12, 2011) - Fashiolista.com, one of the fastest growing online fashion communities, has just announced that Atomico Ventures has invested $500k+ seed capital. The fashion site was launched from Amsterdam in 2010 and has since gained considerable traction worldwide. Its members currently "Love" fashion items at a rate of over 1.000.000 items per month.
Fashiolista is taking a new approach to fashion shopping. It completely relies on the site's users to create an inspirational collection of fashion items. The site works by offering women an incredibly simple way to collect their greatest fashion finds from anywhere on the web with a special heart-shaped browser button. This 'magic' button teleports any item to your personal Fashiolista profile. It doesn't matter if it's a simple little black dress or an exclusive $2000 vintage bag from Chanel, on Fashiolista you can 'have' it all. By adding items to your profile, you create a continuous stream of fashion inspiration for yourself, but also for others to follow. Similar to Twitter, following other members allows you to get constant real-time updates of their latest fashion finds.
In the short period since launch, Fashiolista has attracted members from more than 100 countries. Together these members have handpicked & shared over 300.000 fashion items from over 10.000 different stores & websites. These items have been "Loved" (think retweeted) by the community over 5 million times. The community is picking up traction fast; its members currently "Love" items at a rate of over 1.000.000 per month.
"Fashiolista is all about self expression and developing your own personal style. There is an innate need for people to share products they love and express themselves through fashion," says Joost Nauta, co-founder and CEO, explaining their success. "We get a lot of feedback from our members that Fashiolista is completely addictive and users spend entire days on the website, adding & loving hundreds of fashion items."
Mattias Ljungman, a Partner in Atomico, said, "Fashiolista.com is an excellent example of a high-potential start-up that has significant growth opportunities through its global approach and appeal. We have invested in this strong concept together with Dutch Entrepreneurs Marc Schröder and Michiel Muller -- I am really looking forward to working with our co-investors and the founders building a great business over the next few years."
Nauta predicts that websites like Fashiolista will have a growing impact on spotting & shaping the latest fashion trends: "With one million loves per month, we can already see trends as they are emerging. Fashion influentials will increasingly use blogs and social sites like ours to spread and shape new trends."
Notes to editors:
Logo & images: http://www.fashiolista.com/content/press/
This press release can be found online at: http://www.fashiolista.com/content/press-20110112/?a=a
Atomico is a leading technology investment firm, formed in 2006 by Niklas Zennström, a successful entrepreneur and co-founder of Skype, Kazaa and other companies. Atomico seeks to deliver outsized returns to its investors by being the partner, and investor of choice, for fast growing technology companies. Atomico invests in real opportunities, builds real businesses, and realises real returns. Atomico has to date invested in over 30 companies, and in March 2010 launched the $165m fund Atomico Ventures II. For more information: www.atomico.com
About Marc Schröder and Michiel Muller
Schröder and Muller have been involved in numerous successful start-ups in Europe. Their main focus has been on building new brands in consumer markets through innovation and entrepreneurship. Schröder and Muller are actively involved in new initiatives and are known as hands-on investors.
Press release (PDF): http://hugin.info/145737/R/1479198/414911.pdf