MASHABLE - July 18 - Fab.com, a social ecommerce site, has raised $105 million in Series C financing. Fab originated as a gay social network and transitioned into an ecommerce site. The site has grown to over 5 million members and is selling 3.4 products per minute.
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Daily Deal Site Totsy Raises $18.5M In Funding
GEEKWIRE - July 18 - New York based daily deal site Totsy, which caters to baby and kids products, has raised $18.5 million in a second round of funding led by Rho Ventures and DFJ Gotham. Seattle based rival Zulily raised $43 million in venture capital last summer. The two companies are in a heated rivalry.
Cartera Commerce Pockets $12.2M
XCONOMY - June 8 - Less than a year ago Cartera Commerce CEO Tom Beecher said local merchants were the fastest growing piece of his company, which helps businesses and financial institutions offer card-linked deals to consumers. The company has closed a new $12.2M round of financing to put toward new sales, product development, and operations efforts. Cartera got its start in 2005 as Mall Networks, an online shop where credit card holders and members of airline frequent flyer programs could shop and earn rewards. It later broadened its focus to enable consumers to earn these points both in-store and online through offers linked to their credit and debit cards.
HotelTonight: Same Day Booking Hotel Deals
VENTURE BEAT - June 7 - HotelTonight announced $23M in funding yesterday. HotelTonight offers deals to last-minute travelers through iPad, iPhone, and Android apps. Each day, hotels enter their inventory for the night and the next few days for HotelTonight. At noon local time, these are released to the public. Economically, HotelTonight’s model is a much better model than Groupon. The same hotel room can go for $125 one night and $525 another night. It all depends on demand. What Groupon and LivingSocial try to do is have one price that, in theory, is good for a period of months. But their deals are subject to “availability.” HotelTonight is going up against Expedia, Travelocity, Orbitz, Hotwire and Priceline.
Group Commerce Receives $21 Million Funding
PR NEWSWIRE - May 31 - Group Commerce has announced its Series C funding of $21M from Jafco Ventures and existing investors including Spark Capital, Carmel Ventures, and others. The funding will be used to increase support for its US client base. Since its inception in 2010, the company has raised ~$40M. Today's news follows Group Commerce's acquisition of the UK operations of Dealised, whose employees and clients were integrated into Group Commerce's European business in April.
Restaurant Deal Site Scoutmob Raised $3.25M
ATLANTA BUSINESS CHRONICLE - May 24 - Scoutmob, an Atlanta-based daily restaurant deal startup, has raised $3.25M. Scoutmob will use the money to roll out new products and launch a loyalty program. In November, Scoutmob teamed up with location behemoth Foursquare. Under the partnership, users can redeem Scoutmob's deals from within the Foursquare app. Founded in 2010, Scoutmob employs more than 50 and has 1M users. The startup, which has raised ~$5 million, is "close to profitability".
by Urvaksh Karkaria
See full article at Atlanta Business Chronicle
Koupon Media Raises $4.5M
VENTURE BEAT - Apr 12 - Koupon Media just closed a $4.5M round of funding to offer mobile coupons and analytics tracking. Typically, to redeem a store coupon on your phone, you have to download a store app or an app such as Coupon Sherpa or Yowza. While those apps usually work fine, Koupon Media wanted to eliminate the middle man and provide a platform for retailers to send coupons to customers through Facebook, QR codes, text message, or email. In addition, Koupon Media provides reporting tools so business can track how well a coupon went over with customers. The $4M round brings the company’s total funding to $6.5M.
LivingSocial Co-founder Eddie Frederick Steps Down
TECH CRUNCH - Mar 30 - LivingSocial Co-founder Eddie Frederick is stepping down from both his leadership position today, and from his role as a member of the company’s board of directors. We have heard from sources close to the company that this was an “amiable departure. ”Frederick co-founded LivingSocial in 2007 with CEO Tim O’Shaughnessy, CIO Val Aleksenko, and CTO Aaron Batalion. It is not clear as of now what Frederick will be doing next, or whether or not he will be selling his stake in the company or whether or not this has anything to do with with LivingSocial’s reported IPO. LivingSocial raised a sizable $176M series F round in December, bringing its current total investment to $808M. An updated filing with the SEC from Amazon, which owns a 31% stake in LivingSocial, revealed that the company sustained $558M in losses in 2011, emanating largely from acquisitions, stock compensations, and marketing costs.
TeamBuy Raises $5 Million
IT BUSINESS - Feb 23 - Toronto-based social buying company TeamBuy has closed a $5M round of financing. The proceeds, raised from existing shareholders in the private company, will be used to shore up Teambuy's newly launched services targeting shopping categories for homes, kids and babies. The money will also go towards expanding TeamBuy's existing deal categories: local, products and travel.
Appconomy Raises $10 Million
STATESMAN - Dec 19 - Austin-based Appconomy, which helps customers provide commerce capabilities in their smartphone apps, has raised $10M to accelerate its business in China. Appconomy was founded last year and its software lets large retailers, merchants and brands build apps that include daily deal, coupons, rewards and loyalty programs as well as social networking and mobile payments. Appconomy previously raised $1.5 million from True Ventures and private investors.
by Lori Hawkins
See full article at Statesman
This post also appears on SocialNetworkingWatch.
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