Online Retailer Bonobos Reportedly in Talks to Raise $100 Million Funding
E-commerce menswear company Bonobos is speaking to investors about raising $100 million in a new round of funding that would value the company roughly at half a billion dollars, according to people familiar with the matter.
Bonobos is using the new funds to expand its retail footprint, highlighting the crossover that e-commerce companies are making into traditional brick and mortar retail as they push for growth, the sources said on Friday.
Bonobos, which is profitable, generates around $150 million in sales and is working with Citigroup to assist with the fundraising, according to the people, who asked not to be named because the matter is private.
Citi and Bonobos declined to comment.
New York-based Bonobos was founded in 2007 by Stanford business school graduates who wanted ...