|By PR Newswire||
|December 14, 2012 01:38 PM EST||
NEW YORK, Dec. 14, 2012 /PRNewswire/ -- V&M (www.VandM.com), the world's most distinct, curated marketplace of unique design goods, announced today that they have received multi-million dollar venture "seed" round funding, and completed a merger with one of Europe's leading online marketplace for 20th Century vintage modern design, Deconet (www.Deconet.com), forming a newly established global holding company, Global Design Partners LLC.
Combined, the expanded V&M will become one of the largest sources of one-of-a-kind design in the world with over 30,000 distinctive objects for sale from over 450 dealers in 25 countries. Total merchandise is valued at over $100 million and range from $75 for small collectibles to $2.25M for a hand-carved reproduction of a 26-foot Eli Wilner gilt frame at the Metropolitan Museum of Art, with most goods between $250 and $5,000.
The newly-global V&M also expanded the firm's board to include seasoned internet and media veterans: Jonas Svensson, chairman and co-founder of Deconet, and co-founder of global interactive firm Razorfish; and Kevin Umeh, former CEO of Cint USA, maker of SaaS-based market research software, and Co-Founder of Macmillan Digital, Simon & Schuster's first online business. Jonas and Kevin will be joining R. Adam Smith, an experienced investor and board member in high-growth private brand, media, and luxury companies, and CEO of V&M; Richard Cooperstein, founder of L.A.-based private investment firm Media Investment Group, and a former senior executive at Facebook, Disney, and Viacom; and Louis Santor, a media and entertainment industry consultant and former senior executive managing L.A.-based New Regency Productions, a global independently-financed Hollywood movie production company.
Unlike V&M's competitors in the burgeoning high-end antique and vintage segment, the majority of V&M's products today are already e-commerce enabled, primed to take advantage of the 62% forecasted rise in e-retail sales in the coming years (Forrester Research US Online Retail Forecast, 2011 to 2016).
"The companies perfectly complement each other adding more value than the sum of its parts," says Tobias Seo, CEO of Deconet. "Our capabilities will offer the global antiques, vintage, fine art, and design market unmatched resources, together with great style. The company will represent over 300,000 monthly visitors immediately with the anticipation of doubling in the coming months."
The new company's revenues are a mix of affordable upfront listing fees with commissions of 15% or higher, depending on merchandise type, lowering new vendor entry costs. Subsequently, V&M has been quick to pick up hundreds of new vendors across a broad array of categories, including vintage, jewelry, photography, textiles, and artisan craft.
V&M will be based in New York with offices and representation in Los Angeles, London, Buenos Aires, as well as Stockholm, where Deconet's existing multi-functional team manages customers in seven languages, further reinforcing category leadership in the European market.
"Our acquisition will provide tremendous fuel to our future global expansion plans," stated Bill Indursky, V&M Founder, "Our client base consisting of savvy consumers and interior designers will be happy to see the widest range of pricing and selection of vintage merchandise in the industry."
"I am tremendously pleased with the progress of V&M since our initial investment in December 2010," adds R. Adam Smith, CEO of V&M and chairman of Global Design Partners LLC, "We look forward to the accelerated growth of premiere sources of merchandise, featured content, and editorial. The combination of our high quality traffic and marketing synergies should greatly increase the sell-through and revenues for our platform, and our valued vendor-base."
In the coming weeks, shoppers at www.VandM.com and www.Deconet.com will begin to see site design changes that will unify the companies within the V&M family, as well as have the ability to shop their combined inventory of antiques, vintage, and contemporary design.
V&M's completion of its significant seed round marks the beginning of fundraising for an expanded Series A for the company.
ABOUT V&M (VINTAGE AND MODERN)
V&M (Vintage and Modern, www.VandM.com), founded in 2006, is the leading curated marketplace for vintage furniture, antiques, art, photography, jewelry and design from around the world. Dedicated to offering its millions of visitors a high quality and unique shopping experience, V&M gives the trade and savvy public insider access to some of the best shopping on the web. V&M has been called "The best vintage shopping on the web" by the Los Angeles Times, "A must place to shop" by Vogue, "A Dream Source" by Apartment Therapy, "It's a Brimfield Antique Show for the web-savvy set" by Departures, and has been seen in Architectural Digest, Elle Decor, The Wall Street Journal, and The New York Times.
Founded in 2008, Deconet (www.Deconet.com) is Europe's leading online marketplace for 20th century vintage modern design; bringing dealers, auctioneers, and private sellers from over 25 different countries together in a multi-faceted e-commerce platform. Featuring thousands of unique furniture, lighting, carpet, storage, and ceramic pieces, Deconet has developed a significant global following by sophisticated clients. Deconet´s mission is to connect buyers and sellers online, by offering key services that simplify online purchases, and enable powerful commerce for sellers.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Aug. 3, 2015 04:00 PM EDT Reads: 272
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Aug. 3, 2015 03:45 PM EDT
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Aug. 3, 2015 03:30 PM EDT
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Aug. 3, 2015 03:30 PM EDT Reads: 235
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
Aug. 3, 2015 03:30 PM EDT
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Aug. 3, 2015 03:15 PM EDT
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Aug. 3, 2015 03:00 PM EDT Reads: 559
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Aug. 3, 2015 12:30 PM EDT Reads: 204
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Aug. 3, 2015 09:45 AM EDT Reads: 365
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Aug. 3, 2015 07:30 AM EDT Reads: 188
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Aug. 2, 2015 10:00 PM EDT Reads: 684
Take the Long View with Digital Transformation By @IoT2040 | @ThingsExpo #IoT #M2M #API #Microservices #InternetOfThings
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Aug. 2, 2015 06:00 PM EDT Reads: 1,137
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 2, 2015 05:45 PM EDT Reads: 520
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Aug. 2, 2015 04:00 PM EDT Reads: 432
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Aug. 2, 2015 11:45 AM EDT Reads: 486
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Aug. 2, 2015 09:00 AM EDT Reads: 1,701
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Aug. 1, 2015 10:00 AM EDT Reads: 342
[slides] A New Architecture for the Internet of Things By @JKirklan | @ThingsExpo @RedHatNews #IoT #M2M #InternetOfThings
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Jul. 30, 2015 07:30 PM EDT Reads: 1,425
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Jul. 30, 2015 06:00 PM EDT Reads: 1,831
[slides] Workloads and Public Cloud at @CloudExpo By @utollwi | @ProfitBricksUSA #DevOps #Containers #Microservices
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
Jul. 30, 2015 04:00 PM EDT Reads: 2,243