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.