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September 27, 2013 11:47 pm GMT
Online marketplace for men’s shopping,Bureau of Trade, has been acquired by eBay, the company announced today. FounderMichael Phillips Moskowitz is joining the eBay Marketplaces team, where his focus will be on helping eBay improve their personalization efforts. Terms of the deal were not disclosed, but it was an all-cash deal and an “acceptable” and positive (if not stellar), outcome for Bureau of Trade’s investors. The startup had raised $1.2 million in seed funding in a round led by Foundation Capital, with contributions from Founder Collective, FFAngel, Courtney Holt on behalf of the Techfellows Fund, and other angel investors. The deal hints at eBay’s increasing efforts to modernize its website by experimenting with new kinds of shopping experiences. The first results ofMoskowitz’s work at eBay will be seen as early as this fall, we’re told. eBay had first announced a Pinterest-inspired redesign last October, which featured an image grid and improvements to site search. That revamped homepage was then rolled out to all U.S. customers in February, with eBay touting the more individualized feel it offered consumers, with product feeds that included items, brands and trends that matched up with users’ own interests and passions. Moskowitz’s previous experience with Bureau of Trade, and before that, at Palo Alto design firm IDEO and in co-founding menswear label Gytha Mander, will now come into play at eBay, as the company continues its work in becoming a more personalized service. He’s joining the eBay team in New York, where, says eBay, he will “be helping eBays 120 million active users (as of June 30, 2013) discover items that match their individual tastes and preferences.” SaidRichelle Parham, CMO for eBay North America, eBay will now benefit fromMoskowitzs perspective of “exceptional goods with a story” in-house. For background, Bureau of Trade launched last September – around the same time eBay launched its new homepage. The startup was an experiment in wrapping together content and commerce, to see if doing so would boost sales. According to investorCharles Moldow of Foundation Capital, whose firm led roughly 90 percent of the startup’s $1.2 million seed round, that thesis was proven correct: content absolutely helped drive sales. Whether or not that could scale, however, would have taken more time and investment. At the time of the acquisition, the company was trying to grow its audience, which was in the six figures. Moldow said that Bureau of Trade’s unique position –
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Ar7BbCIZEg4/
Ebay Acquires Men's Content Meets Commerce Shopping Site, Bureau Of Trade
Online marketplace for men’s shopping,Bureau of Trade, has been acquired by eBay, the company announced today. FounderMichael Phillips Moskowitz is joining the eBay Marketplaces team, where his focus will be on helping eBay improve their personalization efforts. Terms of the deal were not disclosed, but it was an all-cash deal and an “acceptable” and positive (if not stellar), outcome for Bureau of Trade’s investors. The startup had raised $1.2 million in seed funding in a round led by Foundation Capital, with contributions from Founder Collective, FFAngel, Courtney Holt on behalf of the Techfellows Fund, and other angel investors. The deal hints at eBay’s increasing efforts to modernize its website by experimenting with new kinds of shopping experiences. The first results ofMoskowitz’s work at eBay will be seen as early as this fall, we’re told. eBay had first announced a Pinterest-inspired redesign last October, which featured an image grid and improvements to site search. That revamped homepage was then rolled out to all U.S. customers in February, with eBay touting the more individualized feel it offered consumers, with product feeds that included items, brands and trends that matched up with users’ own interests and passions. Moskowitz’s previous experience with Bureau of Trade, and before that, at Palo Alto design firm IDEO and in co-founding menswear label Gytha Mander, will now come into play at eBay, as the company continues its work in becoming a more personalized service. He’s joining the eBay team in New York, where, says eBay, he will “be helping eBays 120 million active users (as of June 30, 2013) discover items that match their individual tastes and preferences.” SaidRichelle Parham, CMO for eBay North America, eBay will now benefit fromMoskowitzs perspective of “exceptional goods with a story” in-house. For background, Bureau of Trade launched last September – around the same time eBay launched its new homepage. The startup was an experiment in wrapping together content and commerce, to see if doing so would boost sales. According to investorCharles Moldow of Foundation Capital, whose firm led roughly 90 percent of the startup’s $1.2 million seed round, that thesis was proven correct: content absolutely helped drive sales. Whether or not that could scale, however, would have taken more time and investment. At the time of the acquisition, the company was trying to grow its audience, which was in the six figures. Moldow said that Bureau of Trade’s unique position –Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Ar7BbCIZEg4/
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