Adam Goldenberg is the co-founder and Co-CEO of JustFab, currently known as TechStyle Fashion Group. He was interviewed by CNBC on why his company came to change names. To this he responded that he and his businesses partner Don Ressler had decided to make the change in order to accommodate the changing model of their business. The name would be a true reflection of what their business is all about. As the name TechStyle indicates, the company is a pure mix of fashion and technology. He also commented that the company would be opening more retail stores in order to have a share of the market for those who still love shopping in retail stores. This way, they would win in both the online and offline markets.
In the year 2015, Goldenberg’s company, JustFab became a unicorn. This was following a valuation that was made stating that the company had joined the billionaires’ club. This event followed a round of funding that was led by Passport Special Opportunity Fund, raising around $85 million to reach a total amount of $300 million in funding. In an interview held on Vator, Adam Goldenberg said that it feels great to be a unicorn because of the knowledge that people appreciate what they are doing. He also hinted that the company would be opening new stores.
So, who is Adam Goldenberg? Goldenberg is one of the most innovative leaders in the fashion retail industry. His reputation, for innovativeness, goes way back to his teenage years. At the age of 15 years he founded his first company, Gaming Alliance. Three years down the line, he sold the company to Intermix and was retained to act the Vice President of Strategic Planning of his company. He stayed with the company for approximately 7 years. However, in the year 2001 he was promoted to the position of COO of Intermix.
The year 2001 was a great year for Goldenberg. Not only did he receive a promotion, but he also met Don Ressler, who would come to be his lifelong friend and business partner. Goldenberg left the company in the year 2006, when it was bought by News Corp for more than $650 million on onmogul.com. Together with Don Ressler they started Intelligent Beauty the same year. Intelligent Beauty was an e-commerce brand incubator. One thing led to another and in the year 2010, the pair founded JustFab.
Learn more about Adam Goldenberg: http://vator.tv/news/2015-05-12-whats-it-like-to-be-a-unicorn