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BedBathMore.com to invest $ 20 mn to fuel expansion plans over next 18 months; set to raise $ 10 mn

BedBathmore.com,
an discovery and social commerce platform for everything home, will be investing
close $ 20 mn as a part of its expansion plans over the next 18 months.

The company is
already in talks with investors from the retail trade sector as well as VCs to
raise an initial round of about $ 7-10 mn over the next couple of months.
BedBathMore.com currently funded internally and via Blume Ventures, is likely
to close the first round of investment over the next 90 days.

BedBathmore.com,
an discovery and social commerce platform for everything home, will be investing
close $ 20 mn as a part of its expansion plans over the next 18 months.

The company is
already in talks with investors from the retail trade sector as well as VCs to
raise an initial round of about $ 7-10 mn over the next couple of months.
BedBathMore.com currently funded internally and via Blume Ventures, is likely
to close the first round of investment over the next 90 days.

The company,
which recently re-aligned its business from a pure-play commerce model to a
content-community-commerce model, will invest the funds to build its product
offering as well as technology. The company will also be doubling its team
size, increasing from the current 100-member team to over 250 by the end of the
current fiscal.

BedBathMore is
the only platform in India that has integrated content, community and commerce
into a single platform to create a complete home solution of online users. Over
the next 18 months, the company will focus on extending the current
value-propositions it offers its users. Key amongst these will be increasing
the community of architects and designers on its platform from the current 3500
to 10,000 by December this year. BedbathMore will also begin development of
several industry first features to its platform that will appeal to users
looking to style their homes.

Speaking on the
company’s growth plans, Amit Dalmia, Founder & CEO, BedBathMore said, “BedBathMore.com
will be a platform to combine content, community and commerce, in a simple yet
intelligent manner. We don’t want to be viewed just as a commerce company but
as a discovery based company. BedBathMore.com will be a disruptive and an
integral part of bridging the gaps, currently not being looked at in the
market. As a part of this journey, we are looking for partners who can
associate with us to realize this vision.”

Over the last
few months, BedBathMore has made key acquisitions of Homado.com, an online
community of architects and CrudeArea, an art based start-up focused on the
discovery of graphic art.  The company is
promoted by Vijay Agarwal, Founder & Chairman of the Creative Group of
companies and Blume Ventures.

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