SF e-commerce retailer One King’s Lane is on track to double revenue in 2012, to $200 million. Its clear vertical focus on home décor is working, with a magazine-like, highly graphic approach. Each day the site launches up to three thousand new home products assembled around inspirational decorating themes.
The news: One King’s Lane just closed a $50 million Series D financing, led by Institutional Venture Partners, expected to be their last round. Also participating were existing investors Kleiner Perkins Caufield & Byers, Greylock Partners, Tiger Global Management, and new investor Scripps Networks (parent of HGTV, which could bring terrific synergies). Total raised to date is $116 million.
Breakeven is forecast at $400 million revenue, in 2013 or 2014. One King’s Lane takes no inventory itself, relying on the manufacturers and third parties. Staff of 350. A quarter of One Kings Lane’s traffic is via mobile, more on holidays and weekends.