Farfetch Is Aiming for a $5 Billion USD Valuation
11 days ago - By Hypebeast
Almost three years after being valued at $1 billion USD , London-based online retailer Farfetch is now aiming for a valuation five times hire in its IPO. According to sources, the company is set to begin interviewing bankers in the coming weeks to lead its New York-based IPO.
2016 saw Farfetch generate a revenue of almost $210 million USD, up 74% from the previous year, although the company also reported loses of $47.3 million USD during the same period. The last few years have been successful for Farfetch, with the online store purchasing London retailer Browns in 2015, before partnering...
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Norwest Venture Partners Closes $1.5 Billion Fund
11 days ago - By WWD
Norwest Venture Partners - an investor in beauty and other consumer sectors - has closed a $1.5 billion fund.
The fund, Norwest Venture Partners XIV LP, is the firm's largest to date, and will invest in “disruptive and market-leading companies from seed to late-stage across consumer, enterprise and healthcare sectors,” the company said.
Norwest is an active investor in the beauty space, recently exiting professional skin-care brand PCA Skin via sale to Colgate-Palmolive. The firm also backs at-home hair color business Madison Reed.
Norwest's previous fund closed in January 2016 with $1.2...
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