Panorama News
Shopflick Closes $7 Million in Funding Led By Panorama Capital and Venrock
July 10, 2008 – Los Angeles, CA: Shopflick, an online video-shopping marketplace, today announced the closing of $7 million in a Series A round from Panorama Capital and Venrock. Shopflick has developed a platform that enables sellers everywhere to easily set up custom branded shops and use video to tell the unique stories behind their products. Online customers now have the opportunity to experience a more in-depth look into who and what is behind their next purchase. Shopflick introduces customers to both well-known and emerging independent designers, boutique owners and manufacturers in a design savvy shopping environment.
“We see the same big brands everywhere online, so we created Shopflick to change the game for the thousands of independent emerging designers, boutiques, artists and manufacturers with unique products and interesting stories behind them,” said David Grant, Shopflick’s CEO. “Shopflick enables sellers to be discovered and experienced by shoppers through video in ways once only available to large brands.”
“We are impressed with the knowledge, experience and passion of the Shopflick management team. The company has built a platform that creates a superior, engaging experience for both online buyers and sellers,” commented Michael Jung, Principal at Panorama Capital. “This investment fits our criteria perfectly -- a strong team and a dynamic product in a growing market."
“Video has the power to convey emotion and tell a story that is largely absent from today’s online marketplaces and ecommerce sites,” said Brian Ascher, General Partner at Venrock. “Independent designers and merchants grasp this intuitively and have responded very positively to Shopflick’s value proposition and see it as a compelling channel through which to promote their unique brands.”
About Shopflick
Shopflick (HYPERLINK "http://www.shopflick.com/"www.shopflick.com) is an online video-shopping marketplace that enables sellers to tell the story behind their products, creating an immersive customer experience. Shopflick features unique merchandise from independent designers, boutiques and manufacturers as well as those with a celebrity following. Shopflick Studios works with filmmakers from around the country to create video about our sellers and their products, as well as passion-driven shows about trends, fashion and style. Shopflick is a fast-growing, venture-backed company led by top executives from News Corp, eBay and Fox Interactive.
About Panorama Capital
Panorama Capital is a venture capital firm focused on technology and life sciences companies. Panorama Capital has a singular focus: helping entrepreneurs build market-leading companies. Panorama invests in entrepreneurs and teams who share its values: a passion to build great companies; an unyielding focus on people and teamwork; and a commitment to integrity. Panorama’s philosophy is to make that same commitment to the teams it supports, over and above its financial investment, and to take a hands-on, highly collaborative approach to investing, bringing to each portfolio company the team's extensive operating and investing experience.
About Venrock
Venrock is a premier venture capital firm with offices in Menlo Park, New York, Cambridge, MA, and Israel. Originally established as the venture capital arm of the Rockefeller family, Venrock continues a seven-decade tradition of partnering with entrepreneurs to establish successful, enduring companies. Having invested $2.2 billion in 417 companies resulting in 124 IPOs over the past 39 years, Venrock’s investment returns place it among the top tier venture capital firms that have achieved consistently superior performance. With a primary focus on technology, healthcare, and energy, portfolio companies have included Adify, Adnexus Therapeutics, Apple Computer, Check Point Software, DoubleClick, Illumina, Intel, Millennium Pharmaceuticals, Sirna Therapeutics, StrataCom, and Vontu. For more information, please visit Venrock’s website at www.venrock.com.
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Contact:
Lisa Petrazzolo
Shopflick
323-828-4428