Kitsy Lane More Like Tupperware than Etsy, Raises $3.5 Million
By Ina Steiner
While Kitsy Lane is being compared to Etsy, its model and psyche couldn't be more different than the online marketplace for crafters and vintage sellers. Kitsy Lane launched in July and has raised $3.5 million in funding this week. Despite comparisons in the media, the site, which sells stock jewelry, is more like Amway or Tupperware than Etsy.
Kitsy Lane is a "social commerce platform" that lets anyone set up a store to sell jewelry and accessories boutique quickly, with no fees. It launched in July, and has attracted over 22,000 businesses with "thousands of new Boutique Owners" added each month.
But boutique owners don't sell their own jewelry - they stock their boutiques from the Kitsy Lane catalog.
Rather than inviting friends to parties to sell them Pampered Chef or Tupperware items, Kitsy Lane sellers market to their friends through Facebook. They earn up to 25% in commissions.
Data Point Capital and Longworth Venture Partners led the round and existing investor Point Judith Capital participated.
Visit Kitsy Lane.
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
You may quote up to 50 words of any article on the condition that you attribute the article to EcommerceBytes.com and either link to the original article or to www.EcommerceBytes.com.
All other use is prohibited.