Company: Bag Borrow or Steal
Description: Rents luxury goods such as purses and jewelery.
Competitors: Until Netflix starts renting out Prada handbags, Bag Borrow or Steal really doesn't have any.
Location: Seattle
Amount Raised: $8.25 million
Round: Second
Date Announced: 3/8/06
VC Firms: Madrona Venture Group, Impact Venture Partners
VC Directors: Paul Goodrich, Adam Dell
Quick Take: I like this deal. The CEO is already talking about a billion dollar
company. It's a blue-ocean strategy, which is always refreshing in the me-too
world of venture capital. The name has got to, and probably will, go, but
with an experienced retail management team and more and more women spending
their waking hours reading InStyle magazine, the only thing that could
deflate Bag Borrow or Steal is poor execution. — Joshua Jaffe
Technology (1 out of 10): N/A
Market Target (1 out of 10): 6
Management (1 out of 10): 8
Chances for IPO (1 out of 10): 5
Overall VC Rating (1 out of 10): 7
For more on Bag Borrow or Steal's fundraising, see: John Cook's Venture Blog
Technorati tags: bag borrow or steal, madrona, impact, vc, venture capital
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