|By PR Newswire||
|December 14, 2012 01:38 PM EST||
NEW YORK, Dec. 14, 2012 /PRNewswire/ -- V&M (www.VandM.com), the world's most distinct, curated marketplace of unique design goods, announced today that they have received multi-million dollar venture "seed" round funding, and completed a merger with one of Europe's leading online marketplace for 20th Century vintage modern design, Deconet (www.Deconet.com), forming a newly established global holding company, Global Design Partners LLC.
Combined, the expanded V&M will become one of the largest sources of one-of-a-kind design in the world with over 30,000 distinctive objects for sale from over 450 dealers in 25 countries. Total merchandise is valued at over $100 million and range from $75 for small collectibles to $2.25M for a hand-carved reproduction of a 26-foot Eli Wilner gilt frame at the Metropolitan Museum of Art, with most goods between $250 and $5,000.
The newly-global V&M also expanded the firm's board to include seasoned internet and media veterans: Jonas Svensson, chairman and co-founder of Deconet, and co-founder of global interactive firm Razorfish; and Kevin Umeh, former CEO of Cint USA, maker of SaaS-based market research software, and Co-Founder of Macmillan Digital, Simon & Schuster's first online business. Jonas and Kevin will be joining R. Adam Smith, an experienced investor and board member in high-growth private brand, media, and luxury companies, and CEO of V&M; Richard Cooperstein, founder of L.A.-based private investment firm Media Investment Group, and a former senior executive at Facebook, Disney, and Viacom; and Louis Santor, a media and entertainment industry consultant and former senior executive managing L.A.-based New Regency Productions, a global independently-financed Hollywood movie production company.
Unlike V&M's competitors in the burgeoning high-end antique and vintage segment, the majority of V&M's products today are already e-commerce enabled, primed to take advantage of the 62% forecasted rise in e-retail sales in the coming years (Forrester Research US Online Retail Forecast, 2011 to 2016).
"The companies perfectly complement each other adding more value than the sum of its parts," says Tobias Seo, CEO of Deconet. "Our capabilities will offer the global antiques, vintage, fine art, and design market unmatched resources, together with great style. The company will represent over 300,000 monthly visitors immediately with the anticipation of doubling in the coming months."
The new company's revenues are a mix of affordable upfront listing fees with commissions of 15% or higher, depending on merchandise type, lowering new vendor entry costs. Subsequently, V&M has been quick to pick up hundreds of new vendors across a broad array of categories, including vintage, jewelry, photography, textiles, and artisan craft.
V&M will be based in New York with offices and representation in Los Angeles, London, Buenos Aires, as well as Stockholm, where Deconet's existing multi-functional team manages customers in seven languages, further reinforcing category leadership in the European market.
"Our acquisition will provide tremendous fuel to our future global expansion plans," stated Bill Indursky, V&M Founder, "Our client base consisting of savvy consumers and interior designers will be happy to see the widest range of pricing and selection of vintage merchandise in the industry."
"I am tremendously pleased with the progress of V&M since our initial investment in December 2010," adds R. Adam Smith, CEO of V&M and chairman of Global Design Partners LLC, "We look forward to the accelerated growth of premiere sources of merchandise, featured content, and editorial. The combination of our high quality traffic and marketing synergies should greatly increase the sell-through and revenues for our platform, and our valued vendor-base."
In the coming weeks, shoppers at www.VandM.com and www.Deconet.com will begin to see site design changes that will unify the companies within the V&M family, as well as have the ability to shop their combined inventory of antiques, vintage, and contemporary design.
V&M's completion of its significant seed round marks the beginning of fundraising for an expanded Series A for the company.
ABOUT V&M (VINTAGE AND MODERN)
V&M (Vintage and Modern, www.VandM.com), founded in 2006, is the leading curated marketplace for vintage furniture, antiques, art, photography, jewelry and design from around the world. Dedicated to offering its millions of visitors a high quality and unique shopping experience, V&M gives the trade and savvy public insider access to some of the best shopping on the web. V&M has been called "The best vintage shopping on the web" by the Los Angeles Times, "A must place to shop" by Vogue, "A Dream Source" by Apartment Therapy, "It's a Brimfield Antique Show for the web-savvy set" by Departures, and has been seen in Architectural Digest, Elle Decor, The Wall Street Journal, and The New York Times.
Founded in 2008, Deconet (www.Deconet.com) is Europe's leading online marketplace for 20th century vintage modern design; bringing dealers, auctioneers, and private sellers from over 25 different countries together in a multi-faceted e-commerce platform. Featuring thousands of unique furniture, lighting, carpet, storage, and ceramic pieces, Deconet has developed a significant global following by sophisticated clients. Deconet´s mission is to connect buyers and sellers online, by offering key services that simplify online purchases, and enable powerful commerce for sellers.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
Jul. 30, 2015 07:30 PM EDT Reads: 1,390
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
Jul. 30, 2015 07:15 PM EDT Reads: 295
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Jul. 30, 2015 03:45 PM EDT Reads: 443
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Jul. 30, 2015 02:30 PM EDT
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Jul. 30, 2015 01:45 PM EDT Reads: 259
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
Jul. 30, 2015 12:00 PM EDT Reads: 2,047
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
Jul. 30, 2015 09:00 AM EDT Reads: 2,152
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Jul. 29, 2015 03:00 PM EDT Reads: 1,269
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
Jul. 29, 2015 02:00 PM EDT Reads: 1,181
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Jul. 28, 2015 04:30 PM EDT Reads: 1,760
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
Jul. 28, 2015 11:00 AM EDT Reads: 2,038
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Jul. 27, 2015 10:00 AM EDT Reads: 2,026
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Jul. 27, 2015 09:00 AM EDT Reads: 316
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
Jul. 27, 2015 08:00 AM EDT Reads: 1,899
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
Jul. 26, 2015 09:00 PM EDT Reads: 1,571
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 02:00 PM EDT Reads: 384
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Jul. 25, 2015 01:00 PM EDT Reads: 1,957
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
Jul. 25, 2015 12:15 PM EDT Reads: 457
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 25, 2015 12:00 PM EDT Reads: 1,531
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Jul. 25, 2015 09:00 AM EDT Reads: 1,485