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Article: From Bags to Riches First Round Funding to Rocket Inventory.
- Article from:
- Business Wire
- Article date:
- March 2, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ST. PAUL, Minn. -- From Bags To Riches, a new internet web-based and home party sales provider of Designer Handbags announced today the completion of first round financing.
Unnamed individual investors led the Angel Round. The terms of the investment are undisclosed, however the financing will be used for working capital and will greatly accelerate building product inventories to meet the huge demand. From Bags To Riches, which launched its web site in October 2004, faced with a large backlog of orders will triple its already large inventory immediately. "We have realized a 300% increased in web traffic with product orders quadrupled over our original projections ...