According to Lyst, gross merchandise value will reach over USD $500 million (£352.8 million) in 2020 as gross merchandise volume expands. The 10-year-old business estimates its lifetime gross sales volume at approximately US $2 billion (£1.4 billion).
Despite being coy about the specifics of the potential IPO, Lyst did identify some of the participants in the most recent investment round. Interestingly, along with Accel and 14W, Carmen Busquets, one of the co-founders of Net-a-Porter, a competitor of Lyst, is also an investor.
Investors keeping tabs on consumer behavior and spending trends in the wake of the Covid-19 outbreak continue to place a lot of emphasis on e-commerce.
In the most recent development, UK company Lyst, a platform enabling high-end brands and businesses to sell directly to people, has acquired $85 million in what the startup is referring to as a “pre-IPO” round.
The announcement comes as the business reports that it now has 150 million customers who can browse and purchase from an online inventory of 8 million items from 17,000 brands and stores.
The Growth Of Lyst According To GMV
According to List, the total merchandise value in 2020 will exceed $500 million, and the number of new users will increase by 1100%. GMV has undoubtedly been growing. Lyst, which launched in 2010, said today that its lifetime GMV is higher.
Chris Morton, the founder, and CEO of Lyst said in a statement that while the US and Europe currently have extremely significant audiences for our app and website, fashion e-commerce is still mostly untapped globally and has tremendous development potential.
We’re eager to use this funding from elite investors to support the growth of our partner businesses and keep providing each of our millions of customers with a personalized fashion shopping experience.
About The Magazine
The US version of Marie Claire Magazine has been purchased by specialized media company Future.
The magazine appears to be a good venture for Future, having brought in USD $19.2 million (£13.6 million) in sales last year. The platform will have more than 400 million users if the 30 million monthly readers from Marie Claire US are added.
Marie Claire US will now join Marie Claire UK in the portfolio of Future, which also includes publications like Woman&Home and GoodToKnow. As a result of cost-cutting measures, the former co-owner Hearst has also announced the closing of its Town & Country UK publication.
Working and Future Plans Of The Company
With the aid of our expertise in the audience, e-commerce, and platform, Lyst believes it can significantly expand the Marie Claire US audience. Lyst has had great success growing the Marie Claire UK brand.
The US-based software and data platform VideoAmp received a guaranteed USD $50 million (£35.3 million) in non-dilutive debt funding from Capital IP, with an additional USD $25 million (£17.6 million) on the table.
The cash will be used by the platform to intensify its efforts to become an industry leader in convergent TV planning, measurement, and optimization VideoAmp is eager to maintain momentum after experiencing over 700% growth over the previous five years, and growth is predicted to quadruple YOY by the end of 2021.
The company anticipates using the most recent cash infusion to employ top executives, increase the size of its sales, client success, and technical teams, and strengthen its own offering for the USD $160 billion (£113 billion) convergent TV market as per lundentechcrunch.
Ross McCray, the CEO, and co-founder of VideoAmp offered the following statement regarding the fundraising: “Our execution and outstanding financial performance have allowed VideoAmp with the flexibility on supporting our development ambitions.
We are excited to work with Funding IP to have access to expansion capital so that we can fully seize our land-grab opportunity on favorable terms and without diluting our shareholder base. The best of both worlds is present.
Conclusion
Hundreds of millions of fashion enthusiasts rely on Lyst to help them make purchasing decisions as it quickly rises to the top of the fashion category. While our website and app now have very large audiences in the USA and Europe, fashion e-commerce is still mostly untapped and has a tonne of room for expansion on a global scale.
Chris Morton, the CEO, and creator of Lyst said in a statement: “We’re pleased to leverage this funding from top-tier investors to continue personalizing the fashion purchasing experience to each of our millions of customers while assisting our partner brands in flourishing.
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