As Zulily Announces $43 Million Series C, TOTSY Named Largest Competitor
TOTSY named by Zulily chief as biggest challenger in private sales for families with young kids
NEW YORK, Aug. 12, 2011 /PRNewswire/ -- As Zulily announced its $43 million Series C financing last night and a valuation of over $700 million, CEO Darrell Cavens knows there is a significant competitor in the wings.
"There really isn't anyone directly in our wheelhouse, other than Totsy," said Darrell Cavens when he spoke to Geekwire.com early yesterday morning.
TOTSY is the private sale site exclusively dedicated to delivering deals on coveted must-haves for parents, babies and children. TOTSY is also the only private sale site that strives to be completely carbon neutral, planting a tree in Peru for every child in each family that shops on the site. Founded in late 2009, TOTSY's membership has risen quickly and the company has been able to propel itself to a leadership position in the space, speaking to the expertise of TOTSY's management team and TOTSY's ability to connect with the mom demographic through their online community.
TOTSY's most recent round of financing was its Series A for $5 million, announced late in 2010.
"At TOTSY, we've always focused on building an online place where moms want to be through our social media profiles and the information we share through them. We're very fortunate to have the trust of the moms we serve and we look forward to building that relationship," states Christophe Garnier, resident and CMO of TOTSY.
"Although we have always believed in the potential of our market and model, we're happy to see that our industry is receiving validation through this financing. We will continue to build out this space so that our platform learns to serve our moms even better," notes Guillaume Gauthereau, co-founder and CEO of TOTSY.
Headquartered in New York, TOTSY is a privately held company dedicated to providing its members with access to coveted and essential products and brands designed for expecting moms, parents, babies and kids at sample sale prices. Shopping events are designer-specific and held over a 72 hour period. Membership is free of charge and by invitation only. For more information, please visit http://www.totsy.com.
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