One King’s Lane, an e-commerce founded by Susan Feldman and Alison Pincus, is the online go-to spot for those who want high-quality home goods at a discount. The site works with brand name and vintage dealers, and offers merchandise up to 70% off at flash sales. The site also offers tag sales that allow suppliers to unload unused inventory. Subscribers have doubled over the past year from 5 million to 10 million as well as its market cap, from an estimated $440 million to nearly $912 million.
Like many websites, One King’s Lane isn’t profitable yet, but it generated an estimated $250 million in revenues and is cutting costs, including 15% of its workforce and has gotten rid of its marketplace segment, Hunters Alley. The company has received $229 million in venture capital investment, and while it has not announced an IPO, it is certainly becoming leaner and meaner while expanding into offerings beyond the home.