Indochino raises $4 Million venture capital
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| Heikal and Kyle are happy about the 4$ Million investment |
Indochino Top Story of the day – Indochino raises $4 Million in venture capital from Madrona Venture Group and Burda Media (a German company that had invested in Indochino before). $4 Million dollars, that is quite something, given the fact that they just reached $1 Million sales (I assume in 2010, 35 employees by the way). In order words, that means around 3.300 (if you calculate with an average of 300$ per suit) per year or around 9 suits per day.
According to the article on Timescolonist.com, the $4 Million will be used to “help the firm grow and innovate as it continues to expand”, with a focus on improving the shopping experience.
I’m curious to see the first effects of that investment, be it marketing campaigns (coupons!?), whole new product lines (such as the rumored shoes and cardigans) or improved quality. Whatever it is, 2011 promises to be an exciting year for Indochino and us customers!
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