Skip to main content

The Globe and Mail

Lure of Facebook 'social commerce' for VCs

The potential of e-commerce on and around Facebook Inc. 's giant social network has inspired a rash of investments from Silicon Valley venture capitalists and even Wall Street outfits. Here are 10 recent examples.

- BeachMint, which sells apparel, jewelry, shoes and other accessories through Facebook, has raised about $70-million from investors including Accel Partners, Goldman Sachs, New World Ventures and Millennium Technology Value Partners.

- Buddy Media, which helps brands manage their Facebook presence, raised $54-million in August from GGV Capital, Institutional Venture Partners, Bay Partners and Insight Venture Partners.

Story continues below advertisement

- Fab.com, a seller of designer goods that is built around Facebook and other social networks, has raised more than $50-million from venture capital firms including Andreessen Horowitz, Menlo Ventures and First Round Capital.

- OpenSky, a shopping website that lets consumers get recommendations from celebrities through social networks including Facebook, raised $30-million in October from Providence Equity Partners, Highland Capital Partners, Canaan Partners and The Raine Group.

- Oodle, which runs a classifieds marketplace on Facebook with more than 3 million unique monthly users, has raised more than $20-million from venture capital firms including Greylock Partners and Redpoint Ventures.

- Yardsellr, which links buyers and sellers through Facebook, raised $5-million in late 2010 from Accel Partners and Harrison Metal Capital, which had previously seeded the business with $750,000.

- Lockerz, a social shopping network, has raised more than $50-million from investors including venture capital giant Kleiner Perkins Caufield & Byers.

- Payvment, which runs thousands of Facebook stores for small merchants, has raised $8-million from investors including Sierra Ventures and BlueRun Ventures.

- Wrapp, a social gifting service, has raised more than $10-million from investors including Greylock Partners and Atomico, a venture capital firm run by Skype co-founder Niklas Zennström.

Story continues below advertisement

- Minted, a social commerce startup focused on stationery, invitations and greeting cards, raised $5.5-million in November from Benchmark Capital, IDG Ventures and Menlo Ventures. Marissa Mayer of Google and Jeremy Stoppelman of Yelp also invested.

Report an error
Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at privacy@globeandmail.com.