ModCloth Tries On Some Better-Fitting Funding
Flipping through the regulatory filings yesterday, and spotted one for ModCloth – an innovative online retailer that previously had raised a few million dollars from First Round Capital, Mike Maples and lots of individual angels. Looked huge by comparison -- $19.82m called of a $32.62m offer – so figured it was worth a closer look. Turns out the deal is effectively a recap, in which new investors bought Series B stock and the company bought back Series A and Series A-1 shares from many of the smaller angels. No official word on the lead, but rumor is that it’s a big Silicon Valley firm whose name sounds a bit like ---- Foley or --- Rose.
25 May 2010•2 mins read
