Former Snap Inc. Chief Strategy Officer Imran Khan’s ecommerce venture Verishop Inc. has raised $30 million in less than six months.
The company finalized a $12.5 million pre-Series B raise Oct. 11, and reported its valuation totaled more than $100 million following the round. Seattle-based Madrona Venture Group and Tokyo-based Rakuten contributed funds.
Verishop, which Khan launched Feb. 19, generated a $17.5 million Series A raise led by San Francisco-based Lightspeed Venture Partners.
Khan envisions Verishop as a competitor to Amazon.com Inc. with one-day shipping and free returns. Its website calls Verishop “an ever-evolving platform that brings joy back to shopping” and caters to millennials.
Khan hired former Creative Artists Agency talent agent Paul Cazers in February to manage the company’s partnerships — Cazers is known for his work developing CAA’s influencer marketing division.
Verishop says it has signed “more than 160 brand partners” though it has not shared specifics. The company also partners with influencers, compensating them for posting collections of their favorite products on the platform.
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