Dive Brief:
As investors pump more capital into the livestream shopping market, NTWRK, a livestream shopping platform, has raised $50 million led by Goldman Sachs and Kering, with participation from LionTree Partners and Tenere Capital, the company announced in an email to Retail Dive. Allison Berardo, a vice president with Goldman Sachs’ Growth Equity business, will join the startup’s board, per the announcement.
The platform has previously received investments from Live Nation, Main Street Advisors (which includes investors Jimmy Iovine, Drake and LeBron James) and Foot Locker.
The startup plans to use the funding to support its growth, continue creating content and facilitate e-commerce sales, according to the announcement. The funding round follows NTWRK’s June launch of three new weekly shopping and entertainment shows, “Unhinged,” “Soled Out” and “Meltdown.”
Source: Retail Dive
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