One Kings Lane, a home-good ecommerce site, raised a $112 million funding round last week led by Mousse Ventures, with participation from Scripps Networks Interactive, Kleiner Perkins, Greylock Partners, Tiger Global Management and others, according to VentureBeat.
Similar to fashion sites Gilt and Jack Threads, One Kings Lane provides daily flash-sales to customers, with design themes such as ‘This Charming Bed,’ ‘Alpine Getaway,’ and back in February, a ‘Dennis Hopper Estate Sale.’
Co-founder Alison Pincus is the wife of embattled Zynga founder Mark Pincus, which is particularly relevant in light of this aggressive funding round. USA Today reported in January that One King Lane’s had slowed its previous rocketship metrics, when it tripled revenue between 2010 and 2011. Additionally, the questionable path of ’emotional commerce’ giant Fab — and of the flash-sale business model in general — has doubtlessly wearied the hand of big-name e-commerce investors.
However, One Kings Lane claimed last week that its membership base had increased from 6 million to 10 million in the past year — an approximately 67% increase.
No information is available on how many of those new members are active users.
With the new funding round, One Kings Lane has raised a total of $229 million in VC cash, and is roughly valued at over $500 million.