More on Jet.com’s acquisition of online clothing company ModCloth:
“This is a disappointing outcome for ModCloth, which had raised $78 million from notable investors like Norwest Venture Partners, FLOODGATE, First Round, and Accel Partners. (However, Norwest and Accel also invested in Jet). We are told that some of the capital will be going back to investors, but not all of it. Some of the acquisition money will go to retaining key employees.“
Are you a clothing supplier? What do you think of the recent acquisition of ModCloth by Jet.com? Do you think that Walmart made this move so that it could attract more Millennials to its stores and websites?