Amber Venz Box, an early fashion influencer, co-founded social shopping app LTK ten years ago when she realized more people wanted to buy goods she recommended online than in person. Earlier this week, the Dallas-based company, which she runs with her husband Baxter Box, announced $300 million in funding from SoftBank Vision Fund 2 at a valuation of $2 billion, nearly six times its previous valuation.
The fundraising represents the first investor money LTK, which has been profitable for the last few years, has raised since 2015. The new money will bolster LTK in what’s become a far more competitive market for its two big businesses: shopping app LIKEtoKNOW.it, which features recommendations curated by social media creators, who earn commissions, and rewardStyle, which connects internet personalities with advertisers for deals.
