Otto Manager Brings MyFab To Germany
Jun 19th, 2009 by admin
Jesper Wahrendorf, former head of Business Development New Media at Otto steps up to the plate as German CEO of MyFab and has the goal to bring the online furniture shop to the land of beer and bratwurst.
The French startup sells furniture and designer pieces according to the Threadless principle and has just recently completed a financing round in the order of 5 million euro with BV Capital as lead investor:
Paris-based MyFab has just raised 5 million in a second round, coming from previous investor Alven Capital and led by BV Capital. The total amount invested in the company is now 7 million.
MyFab – which is currently available only in French and German – is an interesting e-commerce play in that its mission consists of cutting out all middlemen in the process of consumers buying furniture.
MyFab has raised the additional sum to prepare for an international roll-out and also to expand into other verticals e.g. fashion. It currently has about 600 items in stock and works with some 80 employees located all over the world.”
Jesper Wahrendorf follows the footsteps of his predicessor Bjrn Schfers, who now manages Smatch.com.
Fortunately, at least one area of the Otto Group has some understanding of new (demand driven) business models (see “The Rebirth of German Mail-Order?”). Ottos internal offshoots – the most recent ones Yalook, DYK360, Jungstil, etc. – all too often simply try to creatively repackage old supply driven business models.
Originally posted in German by Jochen Krisch, adapted for excitingcommerce.com by Jason Soo.
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