Loveseat Raises $7M in Series A Funding to Revolutionize the Returned Home Goods Marketplace
Summary
To solve this inefficiency, Loveseats online auction marketplace offers a platform for thrifty consumers to buy local returned and overstock home goods at a significantly discounted price. Loveseat is primarily focused on prioritizing the consumer experience – with thousands of new listings each week, the competitive auction-style model allows users to bid on high-quality items, typically saving 70% of the original retail price. The customer proposition is simple: score amazing deals on great stuff for your home in a fun and (slightly addictive) gamified shopping experience. Bessemers global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and has $9 billion of capital under management. Born from innovations in steel more than a century ago, Bessemers storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).
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