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Lauren Santo Domingo's Moda Operandi Searching For Additional Funding

Lauren Santo Domingo's Moda Operandi Searching For Additional Funding

>> Launched in February during New York Fashion Week, Lauren Santo Domingo's online trunk show site, Moda Operandi, is now raising its second round of venture capital funding, co-founder and CEO Aslaug Magnusdottir confirmed yesterday. Magnusdottir declined to say how much was being raised, but noted that she had been approached by several investors as interest in online luxury retailers grows. "The recent successes of Gilt [Groupe], Rue La La, and Net-a-Porter being sold has really made this a much more interesting sector for a lot of investors," Magnusdottir said, referring to recent deals. MO received its first round of funding last year from Boston-based venture capital firm New Atlantic Ventures, and is expected to be profitable by the end of 2012, Magnusdottir said. She hopes that the site's membership will hit 100,000 by the end of this year, up from 15,000 now. [Reuters]

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