Friday, July 22, 2011

New York Shopping

Foursquare’s recent $50 million funding round may have grabbed headlines nationwide, but a close look at second-quarter venture rounds reveals another trend: Investors can’t get enough of fashion sites. Gilt Groupe, a website that features limited-time “flash” sales of clothing, travel, and other high-end items, pulled in a remarkable $136 million. Ideeli and Rent the Runway also raised money.

All together, New York area companies pulled off 79 financing rounds and raised a total of $1.3 billion in the second quarter, according to data out this morning from Dow Jones VentureSource. The top industry in terms of amount invested, says Dow Jones, was “shopping facilitators,” with $209.31 million raised in the quarter.
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