For a long time, the internet market was untapped. Not until Adam Goldenberg and his business partner decided to get into it. From then on Goldenberg is known for being a successful engine driving this industry. He sets trends and others in the industry follow. So far, he has had three ventures on Vator.tv, in this industry, which have been a major success.
First was Intelligent Beauty. Adam Goldenberg co-founded this company in the year 2006. This was following the sale of Intermix. He decided that the company was not giving him the attention that he deserved and so he left to start his own business. Intelligent Beauty started as an e-commerce incubator business.
After Intelligent Beauty came JustFab. JustFab followed a membership program where one pays $39.95. Every single outfit from the company goes for this price. As a member, you can choose to skip the month and nothing will be charged. However, if you want something from their store, you will not have to worry about shipment as it is always free.
JustFab has been a huge success because it enjoys huge funding on cnbc.com. The company has been able to obtain over $100 million from various companies including the Matrix Patners, Shining Capital, Rho Ventures and Passport Capital- Just to mention a few. The capital, the company has been able to expand to other countries including UK, Germany and Canada. They have also expanded their product Portfolio.
Currently, TechStyle, previously known as JustFab is now an umbrella brand. It encompasses FanKids which was acquired in the year 2013. Four months later, the company acquired Fab Shoes. The company continued to expand and they ventured into active wear. First, they started with women sports apparel, then it was the men and kids.
All companies operating under the Tech Style umbrella operate under the same model, subscription. This model helps in their reverse- showrooming technique according to businessoffashion.com. It encourages people to buy from them instead of just window-shopping then going to buy from physical stores.
About Adam Goldenberg
Adam Goldenberg got into entrepreneurship pretty early in life. By the age of 15 years, Goldenberg’s Gamers Alliance was born. He sold this company to Brett Brewer, two years later. Brett Brewer is the founder of Intermix. Seeing great potential in Goldenberg, he decided to hire him as the strategic planning VP. It was during his time at Intermix that he met with Don Ressler.