Shop.com on Monday announced its first-ever venture funding. The online mall, which is in the midst of a rebranding effort, will receive a $25 million round of financing, led by Oak Investment Partners. "Shop.com represents the next step in the evolution of retailing on the Web," Fred Harman, General Partner at Oak Investment Partners, said in a statement.
Monterey, Calif.-based Shop.com plans to launch a redesigned Web site next month. Oak Investment Partners is a growth-oriented private-equity firm with $4.2 billion in committed capital.
Discuss: Shop.com gains $25 million amid rebranding effort
Be respectful, keep it civil and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.