RealTime IT News

Furniture.com Launches Multimillion-Dollar Brand Campaign

Online furniture retailer Furniture.com, which just closed on $35 million in third-round financing, launched a multimillion-dollar branding initiative and a promotional deal with Yahoo!.

The national radio and newspaper advertising campaign kicked off last month in over a dozen of the largest cities around the United States. Spending specifics were not disclosed. Separately, Furniture.com announced a marketing agreement with Yahoo! The agreement promotes Furniture.com to Yahoo!'s users via advertisements and special promotions running throughout the Yahoo! network of properties. Spending was not disclosed.

The latest round of financing, led by Amerindo Investment Advisors, includes investments by Group Arnault; RRE Investors LLC; Trellus Management LLC; and a European family group advised by Barnard & Company LLC; as well as prior round investors, including @Ventures, the venture capital affiliate of CMGI Inc.; Bessemer Venture Partners; Brand Equity Ventures; and Comdisco Ventures. The placement agent was Thomas Weisel Partners, LLC.

The new financing brings the total capital raised by Furniture.com, including its first round in June 1998, to more than $50 million.

"The additional capital puts us in an even stronger market position with ample resources to extend our brand and build market share," said Furniture.com Inc. CEO Andrew L. Brooks. " Shortly, we will release a series of major announcements including the signing of new strategic relationships, and the launch of multiple new services and features. . ."