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Shop.com gains $25 million amid rebranding effort

Online retailer gets its first round of venture funding. It plans to launch a redesigned site next month.

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.