Adam Goldenberg and his colleague, Don Ressler are perhaps not the first people one would have thought of when launching a fashion line. But, with the launch of JustFab, the two co-CEOs took the fashion e-commerce to whole new level.
The JustFab co-founders accurately know how to identify trends, grow businesses as well as develop industry-top brands on techstyle.com. They also do it with a mixture of passion and fun which is rare in an industry that takes itself quite seriously.
Adam started his first company, the Gamers Alliance, when he was only 15 and resold it three years later to Intermix Media, MySpace parent company, in 1999. He finished high school and joined Intermix as the Vice President of Strategic Planning. Surprising, by the age of 20, he was promoted to be the Chief Operating Officer hence becoming the youngest COO of any publicly-traded company. At Intermix Adam met Don, a young entrepreneur and brand-building specialist who had also sold his company, the FitnessHeaven.com to Intermix, in the year 2001. Don’s sales had earned him over $1 billion and raised over $100 million in capital from various online firms.
The Pair’s Journey
The pair became fast friends. So when Intermix was bought by News Corporation in the year 2005, Don Ressler and Adam Goldenberg quickly started theirs. In 2006, they formed an e-commerce brand incubator hub called Intelligent Beauty. After establishing several brands and becoming health and beauty market leaders, they began to conceptualize a new type of personalized online shopping. They aimed to merge social interaction with innovative fashion at an affordable price.
To capitalize on the largely untapped prospect, Adam and Don followed the principle implying that for fashion to succeed online, it must be fun, engaging on top of being highly social. The pair prepared for a major growth of Intelligent Beauty and started creating a personalization stage, hiring style consultants, and designers, building attractive as well as an affordable model. The result of this was JustFab, a fashion community where members receive a trending selection of shoes, handbags as well as accessories tailored to their taste monthly for only $39.95.
All of these pieces were falling perfectly into place for JustFab and subscriptions grew very faster, and customers enjoyed the service. Since the business grew faster than anticipated, they knew they needed some venture partners to make sure that JustFab scaled into the global market as they envisioned.