E-Commerce Streetwear Giant Karmaloop Raises $30 Million For An International Expansion


Online streetwear retailer and burgeoning media powerhouse Karmaloop is seeking to raise a $30 million round of funding to push their hipster sensibilites worldwide, according to Bostinno.

Co-founder and CEO Greg Selkoe founded the company in 2000, and is perhaps the hippest e-commerce CEO in the industry: he holds a masters degree from Harvard’s Kennedy School of Government, and last year made the business show rounds with KarmaloopTV Creative Director Pharrell (yes, that Pharrell) to explain the ‘verge’ culture, millennial consumer interests and Karmaloop’s plans for a cable channel.

The cable channel plans were eventually scrapped because Karmaloop’s corporate partners were ‘not evolving,’ according to Selkoe. Since then, Karmaloop has continued to produce high-quality digital content centered around hip-hop, making a fair bid to become the MTV of the Internet, along with Pitchfork, Noisey and Fuse.

The core e-commerce business topped $200 million in revenue in 2012.