U.S. flash site One Kings Lane financing $40 million

U.S. flash purchase site One Kings Lane

Beijing time on September 19th afternoon news, according to foreign media reports, the U.S. flash site One Kings Lane got a new round of $40 million financing, so that the total amount of financing the site reached $67 million.

is reported that the total amount of $40 million of financing, mainly from the United States private Holdings Company Management Fund (Tiger Global) led venture capital and private equity funds. According to One King CEO Doug · (Doug Mack), said the financing side of the company has two years of history of the valuation of about $440 million in the company of about $in Lane. Although the company’s newly established San Francisco branch is not yet profitable, it is expected to generate more than $100 million in revenue during the year.

One Kings Lane is a major operating furniture home improvement products and services online mall, its latest business model on the traditional home retailers constitute a strong challenge. Through e-mail and other notification, the company to its about two hundred million registered users to send promotional information, discounts of up to about 50%. The discount is only 72 hours. Traditional e-commerce sites in the past search – positioning shopping mode is different, flash shopping site can attract no clear goals, but want to find inexpensive commodity consumers.

website CEO Mark said: our site’s new shopping concept, whether it is for consumers, or for investors, it is very exciting."

One Kings Lane faces the same as the flash purchase site’s new website Fab competition. This summer, the main line of Fab furniture and home improvement products, has attracted 650 thousand registered users. Another competitor is an American fashion leader in the field of flash sales site Gilt Groupe, the site plan in the fall again to carry out Home Furnishing Jiezhuang products business, and has raised $138 million in May, the site valuation of $1 billion.

One Kings CEO Mark said that many of today’s flash shopping sites and local shopping sites every day to send a large number of registered users a large number of promotional messages, users are likely to produce boredom. He said: "the user will only leave the best website, and unsubscribe out other promotional emails." Mark also said that in the next reshuffle after the electricity supplier, according to personal preferences, the average American online shoppers may be able to accept an average daily 5~7 sales promotion email.

Mark said One Kings Lane inadvertently involved in other commodity areas, do not intend to go on the shelves of positive commodities: the market has been a lot of positive commodity retail, consumer demand in this area has been saturated."

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