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Shoes.com to Raise $25 to $50 Million for Acquisitions, Plans IPO in 2017
Friday, January 29, 2016Company Profile | Follow Company
Vancouver, BC, January 29, 2016--(T-Net)--Bloomberg Business has reported this week that Vancouver-headquartered Shoes.com is planning to raise $25 to $50 million in new private financing this spring to pay for several new acquisitions it reportedly has in the pipeline, and ahead of a planned IPO for the company in 2017.
See the full story on the Bloomberg Business website.
Shoes.com recently raised net proceeds of approximately $45 million just last year in the spring of 2015, principally from existing shareholders, at a post-money valuation of $320 million with all stock issued being common shares. The offering was significantly oversubscribed at that time.
The company owns and operates SHOES.COM, OnlineShoes.com and SHOEme.ca and is headquartered in Vancouver, Canada.
The company (Shoeme.ca) was originally founded by former Coastal Contacts employee and current President Sean Clark in 2012, and the company is chaired by Roger Hardy.
President Sean Clark
Hardy Capital, along with a small group of prominent Vancouver investors, acquired 100 per cent of SHOEme in July 2014.
In addition to acquiring SHOEme, Hardy Capital also acquired Seattle-based OnlineShoes.com, a $140 million CDN online footwear retailer.
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Editor's Note: Roger Hardy was previously Founder and past CEO of Coastal Contacts Inc., a leading manufacturer and online retailer of eyewear products and contact lens, and was sold to a French contact lens manufacturer (Essilor International SA) for $430 million in April 2014.
Mr. Hardy also is the founder of Hardy Capital Partners. Hardy Capital Partners is a Canadian merchant bank established to foster the growth of young businesses that have the potential to achieve market leading positions, and they currently manage over $100 million.
They currently hold portfolio positions in other well known BC tech companies including Cymax.ca, Mogo, BuildDirect and Payfirma, and others.
Roger Hardy, CEO of SHOES.COM (Roger was also Founder and past CEO of Coastal Contacts Inc.)
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In December, 2014, it was announced that SHOEme acquired 100 percent of Shoes.com, based in St. Louis, Missouri.
The company reported that it intends to consolidate SHOEme, OnlineShoes.com and SHOES.com in order to serve all of North America.
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Note: The company has also made a subsequent acquisition in November 2015 of lifestyle accessories brand, Richer Poorer.
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About SHOES.COM
SHOES.COM is the leading online footwear and apparel retailer in Canada. The Company began with one simple goal in mind — help people discover footwear they love. Since then, the Company has been on a mission to innovate and empower people with new and better ways to shop. SHOES.COM is harnessing new technology and people-power to curate a refined collection of shoes for each individual customer. SHOES.COM offers a selection of over 500 brands and successfully serves over 8 million customers across the USA and Canada.