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December, 2012

Wayfair raises $36.3M for private sale division Joss & Main


Boston-based Wayfair said Monday it has raised $36.3 million in new equity funding to accelerate growth at its private sale site for the home, Joss & Main.

The funding comes from returning investors Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital.

Joss & Main has nearly 3 million members and is operating at a $100 million annual revenue run rate, making it "the fastest growing flash sale site for home goods and furnishings," Wayfair said in a news release.

Wayfair also sells home goods through its e-commerce site Wayfair.com, and the company employs more than 1,000 in all.

In June 2011, Wayfair raised $165 million (under its previous name CSN Stores) from Spark, Battery, HarbourVest and Great Hill - which was the company's first outside funding since its founding in 2002.


Source: BBJ
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