The Hunt, a community-driven online site making photographs shoppable, has secured $10 million in Series B funding.
The latest round was led by Khosla Ventures, which joins Series A investor Javelin Ventures, in bringing the total Series B round to $10 million. Including the $5.5 million Series A round in November led by Javelin, The Hunt has raised a total of $15.5 million so far.
The company said proceeds will be used primarily for hiring additional staff because the firm already doubled its staff since mid-2013 and its still needs to build out its team to “accommodate its rapidly growing user base.”
Ben Ling, a partner at Khosla, will joint The Hunt’s board. Alex Gurevich, partner at Javelin, is also on the board, as are The Hunt’s cofounder and chief executive officer Tim Weingarten and Patrick McVeigh, an advisor to many technology-related firms.
“In the last ten years, Google scaled its search revenue by understanding intent through text queries,” Ling said. “Today, The Hunt is changing the way that people shop online by identifying intent on the visual web. Monetizing the visual web is the next big opportunity, and we are looking forward to being a part of The Hunt’s success,” he added.
Weingarten said, “Two million hunts are started and followed each week. About 50 percent are solved within minutes or the same day.”
He added that of the remaining 50 percent, between 5 to 10 percent are solved within the week. Also, about 20 percent are never solved, but that’s typically due to something in the search query, whether an unclear photo or some search parameter that isn’t detailed enough, Weingarten explained.
He also said that the Millennials and the 20-something consumers, the primary users of the app, spend an hour on average on the mobile app each week over the course of three days per week, with 70 percent actively looking for something they want to buy.
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion