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StyleCaster Closes on $4 Million Series A Funding Led by Internet Entrepreneur Dan Gilbert
NEW YORK , July 1 /PRNewswire/ -- StyleCaster, one of the fastest growing fashion-lifestyle websites, announced today the closing of its $4 million Series A round of financing. Internet entrepreneur Dan Gilbert led the investment round, which will be used to accelerate the StyleCaster platform's growth, including investments in world-class content creation, web-based and mobile applications, the continued growth of its advertising network, as well as international expansion.
StyleCaster is a new online platform that provides individuals access to the world of fashion. From style tips optimized for each individual, the latest fashion trends, and a niche social network, to a large catalog of brand-name clothing and the ability to buy fashion items with just a few clicks of the mouse, StyleCaster combines community, content and commerce - and does so based on each member's personal taste and style.
StyleCaster is a member of Sociocast Networks, the foremost intelligent content delivery system, which enables StyleCaster to optimize the experience for each individual. Since StyleCaster's invitation-only private beta launch in February 2009, it has grown to more than 200,000 unique users per month.
"StyleCaster has the potential to truly revolutionize the fashion and lifestyle space," said Ari Goldberg, CEO and Co-Founder of StyleCaster. "We are excited to continue our partnership with Dan Gilbert as we build the next generation of intelligent and engaging experiences."
"StyleCaster offers both consumers and advertisers something that has to this point not existed - fashion and lifestyle content intelligently delivered based on each visitor's taste and style. The site, and technology, have the potential to revolutionize the e-commerce and content delivery experience," said Dan Gilbert, chairman and founder of Quicken Loans, Inc. and investor behind many successful new media ventures.
StyleCaster has already run advertising programs with some of the world's top brands. Advertisers have seen engagement rates of greater than 50 percent in the most integrated aspects of the site, along with greater than one percent click-through rates in several programs that included standard IAB advertising units. In addition, StyleCaster's Publishing Partners Program reaches more than 50 million unique visitors in less than 12 weeks of implementation. The StyleCaster advertising network has created integration opportunities for endemic and non-endemic brands alike to extend their reach and engage with some of the most passionate users online.
About StyleCaster
The StyleCaster experience is uniquely tailored to each individual's style DNA. With every click, StyleCaster learns about the products, news, and events that its members like.
For more information about StyleCaster, go to www.stylecaster.com.
SOURCE StyleCaster
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