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Ashton Kutcher, Nina Garcia, and Others Invest $1 Million in Fashism
By Lauren Sherman
Fashism, the Hot or Not for street style, just closed its first round of funding, and some pretty major celebs have signed on.
Ashton Kutcher, Nina Garcia, Demi Moore, and a bunch of investment firms–SV Angel, High Line Venture Partners, NV Investment, Vast Ventures, and Rick Webb–have raised $1 million for the New York-based company.
Fashism‘s premise is stupidly smart: Users post pictures of outfits and others give their feedback by voting and commenting on each look. It’s particularly popular with teenagers, but we’ve been surprised by how many late-twenty-somethings are into it as well.
What’s the injection of cash going to do for Fashism? Well for one, they’ll be able to hire more people and add new functions to the site. Given the influx of user-generated e-commerce in the fashion space, some retail component makes sense. Maybe that’s why FourSquare’s Dennis Crowley and plaid shirt hero Steven Alan have come on board as advisers.
Tags: Ashton Kutcher, Demi Moore, Fashism, Nina Garcia
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How is this different from lookbook.nu?
Sounds pretty much identical to me. But this’ll be geared towards the American youth I guess, whereas lookbook.nu mostly consists of users from Europe.
By the way, is anyone kind of … not in love with the name “Fashism”? Just because you can incorporate the word ‘fashion’ into another existing word doesn’t mean it’s appropriate or appealing.
How is this different from lookbook.nu?
Seems like these social network sites for fashion lovers is getting a little overcrowded?
http://garageglamfashion.wordpress.com/
im not into it. it sounds too much like Fascism.
Seems like an awful lot of people to cull together $1Million…
Check out I-ELLA.com (Invitation only site where fashion lovers can Buy, Sell, Borrow, or Swap clothing. The site also features celebrity closets…including Whitney Port. 10% of all proceeds go to charity.)
Fashism? How a group of overpaid morons can reduce a political movement that directly murdered millions and caused a World War which was fought to stop it, into a “catchy” name for a web-site. Hope they all get rounded up and sent to a fashion labor camp.
Stupidly smart? Chictopia and Lookbook have been doing this for a long time. Chictopia has the swap part, partners with a lot of other brands and has millions of users all over the world. It’s obvious these people are copying and trying to capitalize on it. I personally don’t like the sound of the name either.
I hate fascism even more now.