E-commerce sites are a big hit with angel investors.
Recently Bag, Borrow or Steal, a shopping site that allows working women to rent and buy designer bags, accessories, and jewelry on a subscription basis, got venture capital for Series E funding.
According to CB Insights, the Seattle-based company raised $4 million from and Kuwait Holding and the Atelier Fund.
Furthermore, the generosity of venture capitalists is not limited to entrepreneurs and companies states-side; the India-headquartered Big Shoe Bazaar, the Indian equivalent of Zappos.com, recently garnered $2.2 million from its Series B round of funding.
As this New York Times article pointed out, consumer spending is down. The fact that major venture capital firms are investing in e-commerce is evidence of the faith that angel investors have in the e-commerce market and in the spending prowess and power of the female shopper demographic, which consumes the largest percentage of online goods and services.