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Onestop Internet Announces Bessemer Venture Partners Investment
E-Commerce Developer Closes Major Funding Deal with One of the Longest-Standing Venture Capital Firms
Los Angeles, CA (February 25, 2009) – Onestop Internet, a full-service e-commerce technology and distribution partner, announced that it has closed a Series A round of funding with Bessemer Venture Partners, totaling $13.3 million. With Onestop’s proven success in designing, building and managing e-commerce web sites for companies on a completely outsourced basis, this additional funding will be used to enhance its technology and marketing platform, and to facilitate international expansion.
“E-commerce is the future of retailing,” said Jeremy Levine, Partner at Bessemer Venture Partners. “We are excited about working with Onestop to expand their capabilities in helping leading lifestyle and fashion brands maximize their e-commerce traffic and sales.”
“In these challenging economic times, we are pleased to remain a profitable, growing business, and are particularly thrilled to work with Bessemer to strengthen our capital base and new business outreach,” said John Tomich, Co-Founder of Onestop.
Online e-commerce(1) continues to show strong growth, with sales reaching $141 billion in 2008 and a projected growth to $229 billion by 2013, as stated by a recent Forrester Report. Apparel, accessories and footwear remains the number one category online. However, the luxury market is still relatively untapped with only one-third of luxury brands selling online, yet 8 out of 10 affluent and high-net-worth consumers worldwide use the web daily for researching and buying luxury goods and services.
(1) Does not include auto, travel, and prescription drugs.
ABOUT ONESTOP INTERNET
Onestop Internet provides turn-key e-commerce services to companies on a completely outsourced basis. These services include design, fulfillment, customer service, technology, photography and marketing. Clients include Seven for All Mankind, Lululemon Athletica, Betsey Johnson, True Religion Brand Jeans, J Brand, Paul Frank, Nicole Miller, Catherine Malandrino and Splendid, among other esteemed brands. The company is based in Rancho Dominguez, California.
ABOUT BESSEMER VENTURE PARTNERS
Bessemer Venture Partners is a global investment group with offices in Silicon Valley, Boston, New York, Mumbai, and Tel Aviv. As the oldest venture capital practice in the United States, Bessemer has partnered as an active, hands-on investor in Ciena, Ingersoll Rand, Parametric, Skype, Staples, VeriSign, and W.R. Grace. Over the last century, Bessemer Venture Partners and its predecessor funds have invested in more than 100 companies that have gone public on exchanges in Canada, India, London, and the United States. To learn more, visit www.bvp.com.
For more information about Onestop Internet, contact HL Group
Karine Joret at 323.966.4600 | kjoret@hlgrp.com
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