At age 13, Adam Goldenberg used his Bar Mitzvah money to started an online bulletin board service in 1994. He turned his site into a gaming website in 1996 and called it Gamer’s Alliance. Brett Brewe, founder and president of Intermix was impressed with Goldenberg’s site and bought it in 1997. He had no idea that Goldenberg was only 17. Goldenberg was 19 years old when Brewer made him the COO of Intermix. To date, Adam Goldenberg is the youngest person to ever be a COO of a public company.
In 2000, FitnessHeaven.com was acquired by Intermix. It was a health and fitness startup that was launched by Don Ressler. Ressler and Adam Goldenberg worked well together. They used the advertising company Alena Media. Intermix got hundreds of millions worth of revenue with the team’s ecommerce.
Goldenberg and Ressler left Intermix after is was acquired by News Corp in 2005, since they were not bound by contract. They wanted to find new opportunities in the business world on rgtadvisors.com. They worked with a group of former Alena team members and cofounded Brand Ideas, which became Intelligent Beauty.
One of their first creations was a skin care and cosmetic line called DERMSTORE. It used direct-to-consumer marketing. They also created a weight-loss system called SENSA a couple of years later. Dr. Alan Hirsch helped with the development and Brett Brewer, former Intermix founder, became CEO. These ventures were highly profitable.
JustFab was a subscription e-commerce venture that Intelligent Beauty launched in 2012. Matrix Partners provided JustFab with $33 million in Funding in 2011. They got $76 million in capital funder from various companies in 2012.
JustFab expanded its operation to children’s clothing and shoes. It brought over a million European customers on entrepreneur.wiki. By the end of 2013, they had over 3 million customers all over Europe. After getting $40 million in a Series C funding, JustFab started Fabletics. It is a clothing line designed by actress Kate Hudson. Fabletics has even opened a brick and mortar store.
Passport Special Opportunity Fund led a capital fundraiser for JustFab in August of 2014 and raised $85 million dollars. The companies who invested were existing investors.
Further Reading: https://www.youtube.com/watch?v=wf2sndxN0js