JustFab Inc. continues to bolster its executive ranks with the hiring of a chief financial officer and president.
Todd Tappin will serve in the dual role, which reflects the first time the El Segundo, Calif.-based e-commerce company has had a president in some form.
Tappin replaces current cfo Heidi Crane, who has been with the company since its founding in 2010. Tappin officially starts at the firm June 30.
He joins a multibrand company whose portfolio includes the namesake JustFab, Fabletics, ShoeDazzle, FL2 and Fabkids.
Tappin brings to JustFab a strong background in public companies coming from online advertising firm Rubicon Project, where he served as cfo and chief operating officer when the company went public in 2014. He also served as cfo of paid search firm Overture, which also went public and grew internationally during his time there, and was also a managing director at Los Angeles private equity firm Gores Group.
Among Tappin’s chief responsibilities will be growing out the company’s mergers and acquisitions ranks, which could mean more deals in the future for JustFab.
The company to date has raised about $300 million, with its most recent close a Series D in 2014 that gave it a reported valuation of $1 billion. Company executives haven’t shied from addressing chatter about an initial public offering though corporate marketing officer Shawn Gold told WWD in May that there was still work to be done.
“We’re venture-invested and if the conditions are ripe, you know, in 2017 we would be open to [an IPO],” he said at the time. “A lot has to happen. A lot has to happen now. So we’re favorably disposed to an IPO.”
Gold recently joined to fill the newly created cmo position at the company, charged with overseeing marketing across the brand portfolio as well as the identity of the corporate parent, which is mulling a new name.
JustFab last year had sales of $504 million and expects to close this year with sales of about $650 million.