MORE MONEY: Billed as the fashion industry’s first premium video e-tailer for direct response videos, Joyus today will reveal that it has raised an additional $11.5 million in Series B funding led by Interwest Partners and Time Warner Investments. The funding brings the total capital raised to over $19 million. Prior to Joyus’ September 2011 launch, Accel Partners led an initial round of $7.9 million, which also included Harrison Metal and Silicon Valley angel investors.
Joyus founder and chief executive officer Sukhinder Singh Cassidy, a Google veteran, told WWD that today will also see the release of “The Evolution of Online Video,” a study conducted by Joyus that takes an in-depth look at commerce and the video space. Each view on Joyus — whether a brand is fashion, beauty or lifestyle — generates between 47 and 93 cents in revenue. This translates to every thousand views of video on Joyus resulting in $470 to $930 in direct sales revenue for the featured products in the video, according to the study.
This story first appeared in the May 6, 2013 issue of WWD. Subscribe Today.