3/16: Walmart subsidiary Jet.com to buy ModCloth for less than $75m
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Walmart subsidiary Jet.com to buy ModCloth for less than $75m (TechCrunch)
First Round Capital was among the first-in institutional investors in then Pittsburgh-based ModCloth. With exception of Warby Parker, most of its fashion-related investments haven't worked out to well.
Former URBN execs couldn't turn it around or raise more capital. Interesting move by Jet.com's Marc Lore.
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