Don Ressler’s Involvement and Contributions in the Success of JustFab

 

Don Ressler is one of the two founders of the company that has taken the fashion industry by storm, TechStyle Fashion Group. Previously, the company was popularly known by the name JustFab. Currently, TechStyle Fashion Group serves as the parent company of the brands that were under JustFab including, FabKids, ShoeDazzle, FL2 and Fabletics.

 

Background

 

The story behind the creation of JustFab began after News Corp acquired Intermix Media back in 2005. This propelled both Don and Adam to come up with ideas on how to create their company. As a result, an e-commerce brand building company was formed, Intelligent Beauty. Through Intelligent Beauty, they created two brands, which became beauty and health market leaders. Later, the creation of JustFab as the third brand marked a significant milestone for both Don and Adam. JustFab grew into a brand with other successful subsidiaries catering to the needs of different customers such as kids, women and men.

 

Funding

 

For nearly two years after its inception, TechStyle (formerly known as JustFab) was bootstrapping a considerable portion of its financing. In 2011, the situation changed after Matrix Partners, a venture capital firm, gave the company a donation of $33 million. Later in 2012, TechStyle was given an additional $76 million from several venture capital firms including Technology Crossover Ventures, Matrix Partners, Rho Ventures and its parent company, Intelligent Beauty. This funding allowed the company to expand its operations in other nations including the United Kingdom, Canada and Germany.

 

Both Don Ressler and Adam Goldenberg unveiled in September 2013 the close of a third round of funding whereby TechStyle received $40 million. The funds were meant to boost its already-rapid international growth and venture into new product categories. Later in August 2014, the company held another round of funding whereby it received $85 million. Passport Special Opportunity Fund headed this particular round, which hosted various investors including Technology Crossover Ventures, Shining Capital and Matrix Partners. As a result, TechStyle ‘s market capitalization skyrocketed to $250 million.

 

Throughout the progress made by TechStyle, Don Ressler has remained an important part of the company. His decisions combined with those of his partner and co-founder Adam Ressler, have steered TechStyle into a successful company it is today.