So far, this new venture has done fairly well, Mack says, with results well above expectations.Ĭuration is another area that One Kings Lane has been known for, long offering Tastemaker Tag Sales, which allows well-known interior designers and celebrities to select sales of home decor items from around the world. Hunters Alley focuses on selling consumer-to-consumer, similar to the way eBay operates. Last year, One Kings Lane launched a new vertical, entering into the marketplace model with Hunters Alley. Mack maintains that the site has broad appeal, with 60 percent of the items on the site under $100. But that doesn’t mean shoppers are necessarily paying much more. In contrast to the Amazon model, One Kings Lane is an aspirational brand, says CEO Doug Mack. The company says it now has 10 million members, which is up from 6 million in 2012. And more recently, OKL expanded into producing its own branded merchandise such as candles and bedding. Since that time, OKL has expanded into other areas beyond the home, including jewelry and accessories. Launched in 2009, One Kings Lane differed from some of its competitors like Gilt and RueLaLa by focusing on a single vertical: deep discounts on all things home. One Kings Lane, which has its origins as a flash-sales site for home decor, fashion accessories and more, is the brainchild of former merchandiser and fashion executive Susan Feldman and digital media exec Ali Pincus (who happens to be the wife of Zynga co-founder Mark Pincus).
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Charles Heilbronn, Chairman of Mousse Partners, will be joining the Board of One Kings Lane, were told.
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The company’s post-money valuation in the round was just shy of $1 billion, at $912 million (up from $440 million in the company’s Series C round).Īll existing investors participated in the round including Scripps Networks Interactive, Kleiner Perkins, Greylock Partners, IVP and Tiger Global Management. The round was led by new investor Mousse Partners, with two public market institutional investors (who wish to remain undisclosed) also joining as new investors in the round. One Kings Lane, an e-commerce company for home decor and furniture, has raised $112 million in Series E funding, bringing the company’s total funding to date to $229 million.
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