In today’s business world, it takes a unique combination of education, experience, and a sixth sense as to what people want in order to find success. While many entrepreneurs try to find this combination and use it to their advantage, some seem to be born with it and turn their vision for success into reality. This has been the case with Don Ressler, who has utilized his business know-how and abilities to become one of the most successful entrepreneurs of his generation.
Along with partner Adam Goldenberg, Don Ressler took the profits he earned from selling MySpace in 2005 and started Intelligent Beauty, a business incubator generating more than $500 million in revenue annually. Realizing the vast untapped market of online cosmetic stores, Don has found himself creating one successful company after another. Among Intelligent Beauty’s best success stories are DERMSTORE and JustFab, both of which have generated tremendous business on Crunchbase in a short period of time.
As JustFab’s customer base has continued to grow, its funding history has become even more legendary in business circles. After MySpace was sold to News Corp. for more than $580 million in 2005, Don Ressler knew it was time to take his profits and invest them in a completely new venture. Sensing consumers wanted a new way to access today’s most stylish fashions, he went to work and created JustFab. As a subscription-based service featuring monthly showrooms of today’s most beautiful and trendy fashions and designs, Don quickly realized he was on to something big. While many in the business world initially balked at Don selling MySpace on Pando, it became quite clear that what numerous people viewed as a risky departure was in fact a calculated move aimed at launching his next great business venture.
Along with using profits earned from the MySpace sale, Don and partner Adam Goldenberg also used other means to assure they had adequate financing for JustFab. In 2008, the entrepreneurial dynamic duo took in $43 million from Technology Crossover Ventures, while in 2011 another $33 million was raised from Technology Crossover Ventures and Matrix at http://www.huffingtonpost.com/2012/06/25/for-intelligent-beautys-a_n_1624707.html. As business continues to grow, Don’s position in the business world continues to grow as well. Whether it’s creating new and exciting ventures for JustFab or developing other related businesses, Don has proven time and time again his expertise in financing and marketing. With even more projects ahead, the future looks bright for this entrepreneur with a vision.