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Portfolio September 19, 2011

One Kings Lane Raises $40 million

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Congrats to Doug Mack, Susan Feldman, Alison Pincus, and the entire One Kings Lane team on today’s announcement of a $40 million round of financing, led by Tiger Global. Doug, Susan and Ali are the foundation of a special team that is absolutely cranking.

At the time of our investment, I wrote a blog posting called “How Ecommerce Got Its Groove Back.” That posting focused on how One Kings Lane was at the forefront of a new wave of e-commerce companies with fundamentally better business models. I wrote then about three factors that stood out for us about the company. First, a team that is a unique blend of right and left brain talent. Second, a growing customer base of addicts and evangelists. And third, a huge market for home décor that lacked an existing dominant online brand.

My excitement about the business continues to grow, just as the stack of fresh One Kings Lane delivery boxes continues to pile up in the front hallway of our house. The One Kings Lane team has continued to get deeper and stronger, the customer base has dramatically expanded yet has also remained highly engaged, and the business is on track to exceed $100 million in revenue this year. Pretty amazing progress for a company that is not yet three years old! There’s still no dominant online brand in the market for home décor. But I think the One Kings Lane team has the passion, talent and resources to change that.

It’s been a great pleasure working with you. Keep on jamming!

“There’s still no dominant online brand in the market for home décor. But I think the One Kings Lane team has the passion, talent and resources to change that.”