Wednesday, July 7, 2010

Crowdfunding start up FashionStake Inc. has raised $400,000 out of a targeted $600,000 equity offering.

BOSTON -- According to an SEC filing, FashionStake Inc. has raised $400,000 out of a targeted $600,000 equity offering.

New York-based FashionStake is a crowd funding platform for fashion designers. The site, led by Harvard Business School MBA students Daniel Gulati and Vivian Weng, aims to put designers and companies together with consumers on two levels, financially and critically. Financially, an investment in a designer will return the ability to apply credits toward purchasing that designer's garments.

According to the filing, one of the executive officers received $24,000.

President Weng and CEO Gulati are named in the filing.

Bios of principals taken from Creative3 Web site

Daniel Gulati - CEO

Daniel Gulati is CEO and Co-founder of FashionStake, a revolutionary crowd- funding platform for fashion designers that changes the way fashion is conceived and commercialized. FashionStake has already received support from top international designers and has been featured in numerous publications around the world, including Reuters, WWD, The Washington Post, The Huffington Post, Fast Company, ReadWriteWeb, PC Magazine, The Los Angeles Times, The Globe and Mail, The Straits Times and the International Business Times. Daniel believes in the democratisation of previously closed industries and speaks regularly about using Web 2.0 technology to connect creative talent with the power of crowds.

Prior to co-founding FashionStake, Daniel was the former Art Director of an international luxury bath and body products company based in Lucca, Italy. He sold a founding stake in an advertising company and founded a pop-up urban apparel company featured regularly on Big Brother. He is currently co-authoring a book titled Reimagining Leadership, scheduled for international release in May 2011.

Daniel worked at The Boston Consulting Group as a Senior Associate from 2006 to 2009, assisting numerous international consumer goods clients with brand management. Daniel has also spent time at Macquarie Bank. He is currently pursuing an MBA at the Harvard Business School, where he serves as a George F. Baker Foundation Fellow.

Vivian Weng - President and Co-Founder

Vivian Weng is President and Co--founder of FashionStake . Vivian has worked with several global luxury fashion houses, including ESCADA and Elie

Tahari. Vivian is also the Founding CEO of Mittenberry, a modern accessories company.

She actively volunteers at Dress for Success, a non--profit organisation that provides interview suits and workplace apparel to disadvantaged women.
Most recently, Vivian worked at McKinsey & Co. as a Senior Associate, primarily serving the consumer goods and retail industries. Prior to joining McKinsey, Vivian worked in the Derivatives Structuring and Marketing team at Goldman Sachs. Vivian holds a B.S.E. with High Honors in Electrical Engineering from Princeton University. She is currently pursuing an MBA at Harvard Business School.
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