Don Ressler is an outstanding entrepreneur well known for his ability to grow startups. His first venture was a fitness firm, FitnessHeaven.com, which was later acquired by Intermix Media. After the sale, Ressler teamed up with Intermix Media’s COO, Adam Goldenberg, and together they formed an e-commerce and advertising venture, Alena Media, as a subsidiary of Intermix Media. The venture grew to a highly profitable business. In 2005, Intermix was sold off to News Corp, giving way for Ressler and his partner to pursue other dreams.
The Dream Continues
Well aware that they had great expertise in online advertising, Don Ressler and Goldenberg looked in opening a venture that would manifest just that. They created Brand Ideas, which later rebranded to Intelligent Beauty. Intelligent Beauty created an online cosmetics and skin care marketplace named DERMSTORE and a weight-loss system, SENSA. In 2008, Intelligent built sourced for funding from Technology Crossover Venture. In 2010, Intelligent Beauty created their third venture JustFab, which is an e-commerce fashion retailer.
JustFab received a $33 million funding from Matrix Partners in 2011 and an additional $76 million the following year from Matrix Partners, Rho Ventures, Crossover Ventures, and Intelligent Beauty. The funding went to the expansion of the venture to other locations, such as the UK, Canada, and Germany. According to businessinsider.com, the venture went on to acquire FabKids and FabShoes and recorded a large number of members in France and Spain. The firm then raised $40 million capital after which the partners bought ShoeDazzle and launched Fabletics in partnership with Kate Hudson. In 2014, JustFab received a fourth funding, which was led by Passport Special Opportunity Fund and provided by Shining Capital Technology, Crossover Ventures, and Matrix Partners. JustFab later rebranded to TechStyle Fashion Group to reflect the combination of style and technology, which are the core businesses of the company.
The company’s control center is in El Segundo, California, a location that was chosen due to its proximity to the luxurious beaches and international airport. As a fashion company, this location provided a good environment that allows the company to keep up with new trends. The offices are also spacious and offer an opportunity for expansion at https://pando.com/2014/08/28/breaking-justfab-raises-85m-at-what-sources-say-is-a-1b-valuation/.