Preen.me Receives $800,000 in Seed Funding
A Social Platform Dedicated to Beauty Advice
Social platform Preen.me has raised $800,000 in seed funding. Genesis Partners invested the most, while Horizon Ventures and investor Oren Zeev from Orens Capital also took part. Horizon Ventures manages Chinese billionaire Li Ka-Shing’s investments. They have also invested in Facebook, Spotify, and Siri.
The funding would be utilized for taking on new developers and moving the sales office to the US. In the long run, Preen.me wants to provide personalized product recommendations and price comparisons based on all the beauty brands. They aim to do this through product feedback given by users. Their ultimate vision is to provide the best beauty product recommendations to women all over the world.
Preen.me was launched on Facebook as a community page in 2011. COO Haggai Klorman-Eraqi and CTO Nitzan Volman founded the company in Tel-Aviv. In June 2012, it evolved into a site for beauty and makeup advice. Currently, Preen.me makes revenue from brands that advertise on their site. They are also focused on building a loyal Facebook community and have more than 175,000 Facebook fans.
By Luyao Li