While many people struggle with start-ups, some people just have the knack to start a business that grows into a huge success. A good example of this is Don Ressler, an entrepreneur who seems to have a golden touch in every venture he lands on. Ressler is the man behind names like Intelligent Beauty, FitnessHeaven.com, and JustFab. But what is it that he possesses that makes him so efficient? Below I will give you a sneak peek into the challenges, triumphs and the lessons he has learnt as an entrepreneur.
In 2011, Ressler sold FitnessHeaven.com to Intermix Media and partnered with Adam Goldenberg, the then COO to become Alena Media, an e-commerce, and performance advertising company. Together they made hundreds of millions until they were acquired by News Corp. in 2005 when the tables turned. Under the management of the media conglomerate, intermix suffered as a result of neglect and all Ressler and Goldberg could do was look on as the thriving venture they had built withered.
Though frustrated, Goldenberg and Ressler were still zealous about starting another booming venture. The two were confident in their ability to succeed in the Online Performance Advertising since it was a fast growing industry. In a few short weeks, they conceived Brand Ideas with the help from some former members of Alena. Brand Ideas is now known as Intelligent Beauty. Some of their creations include Dermstore, a cosmetics marketplace and SENSA, a weight loss system. The venture is said to be very profitable and we even see them receiving $ 43 million in funding from Technology Crossover ventures in 2008.
JustFab is another subsidiary of Intelligent Beauty that was formed in 2010. Today it is a leading fashion subscription site. A year after its formation, they received $ 33 million from Matrix Partners. JustFab was growing tremendously and by April 2012, they had crossed the 6 million member mark and also consequently another $ 76 million in funding from investors in June of that year. JustFab is now huge in Europe and lays claim to a number of acquisitions of its own. They include FabKids, a kids fashion subscription service, FabShoes, a European e-commerce site, ShoeDazzle and Fabletics, an athletic wear fashion site. JustFab’s total capitalization now stands at an impressive $ 250 million. See: http://www.fabletics.com/about
Don Ressler is very keen when choosing a business partner as he has had his share of learning opportunities on Zimbio. His main arsenal, however, is his keen eye to spot a market gap and finding a solution to fill it.