Adam Goldenberg Made A Big Hit From JustFab

JustFab started out as just a fun business idea to add to Adam Goldenberg and Don Ressler’s list of companies they were running at Intelligent Beauty, but it’s now turned into a big hit with fashion shoppers everywhere. It started back in 2010, and in just three years it became valuated at over $1 billion. Goldenberg and Ressler started the company because they wanted to do something different in giving shoppers a store that sold styles they wanted, and had social media built into it to make it even more fun. They also put a VIP membership with discounts and bonuses users can get when they signup. Thanks to endorsements from celebrities like Kate and Oliver Hudson, JustFab has soared in the few years it’s existed, and it’s opened up local stores in select cities.

Adam Goldenberg began his story back in the mid 90s when he started up his first business. Adam Goldenberg was only 15 at the time, but he was always churning ideas that nobody had thought of before, and he capitalized on the gaming market when started Gamer’s Alliance. This company became well-known quickly, and just three years after Goldenberg started it, Intermix Media bought it out. Intermix Media hired Adam  before he even finished high school, and at only 20 years old they had made him their chief operating officer.

Goldenberg connected with another upstart entrepreneur, Don Ressler who had started Together, the two of them started collaborating on branding ideas for Intermix Media and helped the company start MySpace on, the social media phenomenon that made Intermix Media famous. They also started up Alena Media, a key source of revenue for the company, but in 2005 when News Corp bought out Intermix Media, they had no interest in continuing Alena’s operations. So Goldenberg and Ressler left to start their own company.

Intelligent Beauty was their first independent company, and under that they distributed various skin care and health drink products. A few years later, they took a brand new idea for shopping and turned it into, the company that would become their greatest hit. They hosted fashion functions in which experts came in to offer ideas on the clothing lines, including Kimora Lee Simmons who would become the company’s president and Director of Creativity. Josh Hannah saw how well this company did in a couple short years, that he supplied venture capital from Matrix Partners, and soon JustFab was opening business all over the world. Total venture capital JustFab has raised has been in excess of $300 million.

October 20, 2016

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