AdoreMe is a fast-growing lingerie startup that has raised an $8.5 million Series B round of financing from Upfront Ventures, Mousse Partners and Redhills Ventures. And although the intimates and swim wear site looks just like Victoria's Secret, it wasn't created by a woman.
Morgan Hermand-Waiche's family runs a fashion business in France. So when he was at Harvard Business School and recognized a pain point women face while lingerie shopping, it wasn't hard for him to create AdoreMe.
"I frequently heard friends and family complain about how there needed to be a better option for buying lingerie in the U.S.," Hermand-Waiche tells Business Insider. "People are so tired of high prices and slow-fashion from Victoria's Secret."
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21-year-old Lucas Duplan just raised more millions than his age.
The first-time entrepreneur and recent Stanford graduate (he finished a computer science degree in three years) has been working on a mobile payment app for the past two years. He's now been awarded $25 million from a long list of Silicon Valley investors which includes Andreessen Horowitz, Peter Thiel, Accel Partners' Jim Breyer, Intel, Intuit, former Facebook COO Owen Van Natta, Salesforce CEO Marc Benioff, the founders of Qualcomm and VMware, and many others.
The kicker: The app hasn't launched yet and it isn't going to for a few more months. Duplan's 50-person team raised the entire $25 million – the largest seed round in Silicon Valley history – on a mere working prototype and a beta test at Stanford University.
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What if the next big thing in tech does not arrive on your smartphone or in the cloud? What if it lands on your plate?
That idea is enticing a wide group of venture capitalists in Silicon Valley into making big bets on food.
In some cases, the goal is to connect restaurants with food purveyors, or to create on-demand delivery services from local farms, or ready-to-cook dinner kits. In others, the goal is to invent new foods, like creating cheese, meat and egg substitutes from plants. Since this is Silicon Valley money, though, the ultimate goal is often nothing short of grand: transforming the food industry.
“Part of the reason you’re seeing all these V.C.’s get interested in this is the food industry is not only is it massive, but like the energy industry, it is terribly broken in terms of its impact on the environment, health, animals,” said Josh Tetrick, founder and chief executive of Hampton Creek Foods, a start-up making egg alternatives.
Continue Reading @ NYT