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February 20, 2013 03:51 pm GMT
In yet another an indication that big media powerhouses are starting to refocus their business on driving new business models like commerce, publishing giant Cond Nast has made what is understood to be its first investment in an e-commerce startup in Europe. Cond Nast Germany has invested in RenSim, one of Europes first online jewellers in the luxury category. The premium publisher, best known for titles like Vogue magazine, said it had actually owned shares in the company since 2011, but it has now raised its stake to 46% in a capital increase. Cond Nast already owns Reddit, although this is a publishing play, not e-commerce.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ArP_RSjDsTM/
Cond Nast Reveals Investment In Jewellery Startup, As Media Scrambles For New Revenues
In yet another an indication that big media powerhouses are starting to refocus their business on driving new business models like commerce, publishing giant Cond Nast has made what is understood to be its first investment in an e-commerce startup in Europe. Cond Nast Germany has invested in RenSim, one of Europes first online jewellers in the luxury category. The premium publisher, best known for titles like Vogue magazine, said it had actually owned shares in the company since 2011, but it has now raised its stake to 46% in a capital increase. Cond Nast already owns Reddit, although this is a publishing play, not e-commerce.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ArP_RSjDsTM/
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