Groupon-like site for Shoes!?

Social-shopping company ShoeDazzle.com Inc. said it has raised $40 million in a financing round led by Andreessen Horowitz. The $40 million adds to the $20 million or so that ShoeDazzle, based in Los Angeles, previously raised from investors including Lightspeed Venture Partners and Polaris Ventures. Andreessen Horowitz put in $30 million in this latest round, with the rest coming from ShoeDazzle's existing investors, said Brian Lee, ShoeDazzle's chief executive. With the financing, Andreessen Horowitz Partner John O'Farrell is joining ShoeDazzle's board. ShoeDazzle, which has more than 3 million members and nearly a million fans on Facebook, allows shoppers to join the site for free, filling out an online form that describes their shopping choices and styles.  Every month, they then get an email with ShoeDazzle-branded shoes and accessories that they can purchase for a flat rate of $39.95 each. If a shopper chooses to skip a purchase that month, they pay nothing or can accrue a credit towards a purchase another time. Hollywood celebrities including Kim Kardashian have been involved in designing items for the company, which was founded in 2008. O'Farrell of Andreessen Horowitz said the ShoeDazzle investment is a "growth" investment for the firm. While Andreessen Horowitz has previously invested in Web household names such as Groupon Inc. and Facebook Inc., it has now turned its attention to Web companies that might not be quite as well known outside the cognoscenti but represent "the new batch of Web companies that will mature in a big way," O'Farrell said. Apart from ShoeDazzle, those investments also include Box.net Inc. and Aliph Inc. (better known as Jawbone), he said. ShoeDazzle's Lee said that with the new funding, the company plans to beef up its staff of around 135 people. In addition, the company plans to launch in international markets such as the United Kingdom and to expand into other shopping categories apart from shoes and accessories, he said.

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