ShoeDazzle, an shoe-buying club cofounded by celebrity Kim Kardashian, has just closed a $40 million round led by Andreessen Horowitz, which will contribute $30 million.
The company gets people to sign up for $39.95 a month, then presents a selection of shoes, handbags, and other fashion items to choose from. Customers can skip a month, but if they forget, they’re charged and get a credit to use in the future. The company has three million subscribers so far.
Entrepreneur Brian Lee, who previously founded online legal document company Legalzoom, cofounded the company with Kardashian.
Andreessen Horowitz partner John O’Farrell will join ShoeDazzle’s board. Other investors include Polaris and LightSpeed Ventures.