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Cologne/Dallas, 17th of June, 2013 – Dallas, Texas-based Need LLC, a curated men’s lifestyle service and publication, today announced the completion of its seed funding round.
Matt Alexander, Founder and CEO of Need, has secured an undisclosed amount of venture funding from German early-stage mobile investors Venista Ventures as well as business angels Ted Hoffman, Mark Giambrone, and Andrew Brimecome. The investment will be used for the development and launch of Need, with the public release planned for the second half of 2013. Kai Schmude, COO of Venista Ventures, commented the investment: “Lead and backed by an impressive team of Internet business experts, Need is addressing a highly promising niche of the fast-growing curated shopping market.”
According to Matt Alexander, Need’s seed round was well-oversubscribed. The startup has gathered support from seasoned Internet managers. Among the members of the board are Carl Sparks, current CEO of Travelocity and former President of Gilt Groupe, and angel investor Andrew Brimecome. Trey Bowles, co-founder of the Dallas Entrepreneur Center and chair for Startup America: Texas, and Kevin Vela, founder of Vela Keller PC, also serve on Need's advisory board.
Need is presented as a hybrid between a retailer and a highly-selective men's magazine and will be available to shop via mobile or web. Need is planned for public release first via the web, with an iOS version and personalized subscription option intended for release in late-2013.