TechTaffy

tech:

taffy

Wayfair Secures $36M Equity Financing

By TechTaffy Desk

[Techtaffy Newsdesk]

Wayfair.com, an online retailer of home goods and furnishings,  has secured $36.3 million in new equity financing. The financing will be used to fuel the growth of Joss & Main, the company’s private sale site for the home. Investors include Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital.

Joss & Main has acquired nearly three million members and is operating at a $100 million annual revenue run-rate, says the company.   A division of Wayfair.com, Joss & Main is a membership-based website that offers home decor and curated collections. Members of the private sales site can explore curated collections of furniture, housewares, decor and accents through limited-time sales. Joss & Main released a mobile app earlier this year .

[Image courtesy: Wayfair.com]

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.