By Connie Loizos.
Sophia Amoruso famously founded the retailer Nasty Gal, growing it from an eBay store that sold vintage items to a darling of the fashion world that was seeing more than $300 million in sales at one point.
Somewhere along the way, however, Nasty Gal lost its way. After raising $65 million over its 10 years of operation — including from Index Ventures and renowned retail executive Ron Johnson — the company last November filed for Chapter 11 bankruptcy protection, in part to address “immediate liquidity issues.”
The company was ultimately acquired for $20 million in February. In the meantime, Amoruso, who’d stepped away as CEO of Nasty Gal in January of 2016 but remained on as executive chairman, is on to a new business, and now it’s venture-backed. Indeed, the media company that she began building on the side three years ago — Girlboss — is today announcing $3.1 million in seed funding led by Lightspeed Venture Partners, whose partner, Nicole Quinn, led the deal and joins the startup’s board.
Read more at TechCrunch.