The CEO and Cofounder of TechStyle, formally JustFab has been featured as one of the top 3 CEO’s you need to know in LA. According to an excerpt published in Built in LA in January 2014, Goldenberg predicted that 2014 was going to be huge for his company. The positive feeling stems from his 1999 experience, when he built and sold Gamer’s Alliance startup to Intermix Media after 2 short years. Before JustFab came into being in 2010, Goldenberg established a highly successful online incubator called Intelligent Beautiful. Many of Goldenberg’s predictions about JustFab have come to fruition as evidenced in the developments witnessed since 2013.
Case in point, the company managed to raise $55 million in capital and acquired ShoeDazzle, a shoe discovery outfit in 2013. This move was quickly followed by the establishment of Fabletics Activewear. Goldenberg told Built in LA that JustFab’s big break largely stems from its positive customer feedback. When asked about the company’s hiring practices, Adam Goldenberg said JustFab was focused on mentoring and building high performers, by transforming the ‘B’ team into an ‘A’ team. As part of its strategy to maintain customers, the company is also focused on producing and selling high quality products.
JustFab, under the guidance of its CEO continues to raise funds and enter into strategic partnerships to fund its growth. According to Pandomedia, Inc website, the company raised over $80 million capital in 2014. The round was led by various partners, including Technology Crossover Ventures, Shining Capital, Matrix Partners and a new entrant, Passport Special Opportunity Fund. This round of funding raised the company’s capitalization to $250 million. However, sources close to the company revealed a valuation of $1 billion. In future Goldenberg hopes to grow the company into a $5 billion entity.
About Adam Goldenberg
Adam Goldenberg is a seasoned entrepreneur and an internet advertising and marketing pro. According to a Crunchbase overview, Goldenberg began his entrepreneurial adventure at a tender age of 16, when he established Gamer’s Alliance, Inc in 1997. The venture was later sold to Intermix Media in 1999. Goldenberg soon became the COO of Intermix media at age 20, having joined the company as VP of Strategic Planning. Intermix was purchased by News Corp in 2005 in a deal worth $650 million. With vast business experience, Adam Goldenberg later teamed with Don Ressler to establish a string of successful entities, including Intelligent Beauty and JustFab.