DITTO Secures $3M Round for Designer Eyewear eCommerce Site
MOUNTAIN VIEW, Calif., April 26, 2012 /PRNewswire/ — DITTO, an eCommerce site for designer eyewear that uses patent-pending 3D virtual fitting technology, today announced that it has closed $3 million in financing led by August Capital. Angel investors, friends and family also participated in the round.
DITTO.com is a website that allows consumers to record a short video with their webcam to create a 3D virtual self, or “DITTO.” Users can virtually try-on eyewear in 180-degree views to see how a particular style looks and fits their face before they make a purchase. DITTO.com also integrates social media features, allowing the user to post side-by-side snapshots of their DITTO in different glasses to Facebook to poll friends for opinions.
The site offers an extensive selection of designer frames with more styles and sizes than most retail and optical stores. The curated brand selection on the site includes Persol, Chloe, Ray-Ban, Tag Heuer, Vera Wang and others. Frames are sold at suggested retail prices ranging from $110 to $1,800 and high-quality anti-reflective coated prescription lenses are included at no cost on optical glasses. These exact lenses often cost more than $150 at retail locations. Customers receive their new glasses within ten days with free shipping, free 90-day returns and first-class customer service.
“Great eyewear changes your mood and your persona,” says Kate Endress, cofounder and CEO of DITTO.com. “Yet buying them at stores leaves you with a limited selection and, to date, buying online hasn’t been a viable option because of one big question: Do they fit? We couldn’t be more excited to launch DITTO.com, which we believe will take online shopping for eyewear to the next level. Through partnerships with some of the world’s best brands, our proprietary technology and phenomenal customer service, we are going to make buying glasses as much fun as wearing them.”
“eCommerce has dramatically evolved across multiple categories including fashion and accessories, yet eyewear remains extremely challenging to market and sell online. DITTO’s innovative technology eliminates the hassles and impediments associated with buying eyewear online as well as in-stores by giving consumers the ability to not just see how they look and fit, but also ask a trusted source to help select which frames to buy,” explained Howard Hartenbaum, general partner at August Capital and founding investor in Skype. “We are thrilled with the investment and believe DITTO has the right model, technology and team to build a great company.”
Hartenbaum is joining the company’s board. DITTO plans to use the new funds to further develop its technology, add to its team, and market to customers.
DITTO is an eCommerce site for designer eyewear. Based in Mountain View, CA, DITTO uses patent-pending technology to let customers create a DITTO, a 3D virtual self, from video footage from their webcam so they can try on glasses to see if they fit and look great in 180 degree views before they buy them from the site. The site offers an extensive collection of frames from designers such as Persol, Chloe, Ray-Ban, Tag Heuer, Vera Wang and others, free prescription lenses and first class customer service. The company was cofounded by Kate Endress while in business school at Stanford, and Sergey Surkov and Dmitry Kornilov who were previously engineers at Google and Nokia, respectively.
About August Capital
August Capital was founded in 1995 to invest in companies differentiated by technical innovation and entrepreneurial excellence. To date, the August Capital funds total $2.0 billion. August Capital’s partners have more than a century of combined venture experience and together have invested in more than 80 companies across the technology spectrum. These companies represent an aggregate market capitalization of well over $250 billion and generate in excess of $75 billion in annual revenue. The partners at August Capital were the earliest investors in a number of ground breaking technology companies including Microsoft, Intuit, Seagate, Silicon Image, Sun Microsystems, Skype, Compaq, Symantec, Sybase, Atheros, Postini, Cobalt, shopping.com, PayCycle, Grand Junction and many more. August Capital is located in Menlo Park, California.