My Size, an Israeli company which is developing automated clothing size measurement technology, is planning on a second IPO, this time on the New York Stock Exchange where it hopes to raise $10 million.
The company is currently listed on the Tel Aviv Stock Exchange where it has a market cap of NIS 8.5 million ($2.295 million).
Nowadays people can do just about anything with their smart phones. Someday you will be able to use them to get a diagnosis whenever you are feeling sick.
My Size wants to do the same thing, but with clothing. The idea is simple. People will be able to take their own measurements with an app, upload them and get fitted for clothing on line.
Think about that for a minute. Imagine never having to wait for a fitting and to have to sit through the tailor taking your measurements. This, of course, is not very good news for tailors.
My Size recently merged with shell company TopSpin Medical. Globes has reported that as of the end of June 2014, the company had only $15, 000 in cash, but it raised $4.2 million from private investors in August.