Online home improvement retailer One Kings lane to lay off 75-100 people

Absrtact: June 18 News, according to U.S. media reports, sources said, online home improvement retailer One Kings Lane will lay off 75-100 people, and the company just 6 months ago completed its valuation of more than 900 million U.S. dollars a big financing. Some staff members received a cut-through in Tuesday

June 18 News, according to U.S. media reports, sources said, online home improvement retailer One Kings Lane will lay off 75-100 people, and the company just 6 months ago completed its valuation of more than 900 million U.S. dollars a big financing. Some staff members received a notice of 15–20% in Tuesday, and the estimated number of redundancies may account for the total number of staff members.

A spokeswoman for one Kings Lane declined to comment.

In January of this year, one Kings Lane announced that it raised $112 million trillion in funding for Mousse's investment, making the company's total financing up to $220 million. The investment is valued at 912 million dollars for one Kings Lane in San Francisco. In April, the company announced that its CEO, Doug Mack, would leave Gees Mark to run fanatics, a sports e-commerce company. At that time, the company's chief marketing officer and Human resources director had also left.

One Kings Lane's chief financial officer and chief Operating officer Dinis Lati (Dinesh Lathi) was appointed as the interim CEO and then the official CEO. The company was founded in 2009, with the founder of Susan Firman (Susan Feldman) and Ari Ping (Ali Pincus). The company's business is to sell a variety of furniture and household decorations in a time-limited "flash".

The once-popular flash-sales model has lost its aura in recent years, as Fab and Ideeli have failed to achieve the expected results. Other websites, such as Gilt, are back on track after layoffs, but the child-Flash website zulily A successful IPO at the end of last year, with a current market value of nearly $5 billion trillion.

One Kings Lane investor also includes Cripps NX Interactive, Kleiner Perkins, Institutional Venture, and Greylock and Tiger Global Management.