One Kings Lane, cofounded by Zynga CEO Mark Pincus’ wife Alison Pincus, has raised its second round of financing.
And it’s a big one – $23 million in a round led by Greylock Partners and Kleiner Perkins Caufield & Byers.
Kleiner is a previous investor, as is Greylock Partner Reid Hoffman. The size of that previous round was never announced. Previous investors First Round Capital, as well as Hoffman, also invested in this round. As did TriplePoint Capital and Marissa Mayer (this is the first investment by Marissa that we’ve heard about).
The company also says that 2010 sales were up 500% over 2009, and more than 75% of sales come from repeat customers.
One Kings Lane is like Groupon with daily deals, but only handles upscale products for the home. Furniture, bedding, art, stuff like that. I’m a regular customer there, and the good stuff always sells out very quickly each morning.
The Pincus family is turning into a bit of an entrepreneurial dynasty.
One Kings Lane is the leading flash sales site for the home market, offering members access to spectacular designer home decor, furnishings, accessories, and gifts – at prices up to 70% off retail. One Kings Lane works directly with leading home brands to bring the very best products at exceptional prices to its members – every day of the week. One Kings Lane also partners with top designers, decorators and industry insiders to deliver content that inspires, enlightens and...
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San Francisco, CA
