Mom the CEO (Chief Everything Officer)
These days, there isn’t a mother who’s not juggling an endless list of responsibilities. Besides “mom,” many of you take on the titles of “Mom the Social Coordinator,” “Mom the Professional,” “Mom the Nurse,” “Mom the Cheerleader,” and the list goes on and on. But in my opinion, one of the most important titles that moms hold is that of household Chief Financial Officer. You are not only buying for your children and for your home, but also for yourself. There are actually more than 50 million moms in the US, and on average moms are in charge of 85% of household spending. Did you know that, collectively, moms spend $2.1 trillion annually, and that number may reach $3 trillion by next year? Even so, recent studies show that nearly three quarters of you feel that advertisers don’t get you, or even worse, more than half of you simply feel ignored by advertisers (according to Marketing to Moms Coalition Survey 2010).
That’s where Plum District comes in. Plum District has been built on the idea that moms trust moms and moms get moms. Whether you are asking about the latest safety products for your kids or great deals on pampering yourself, you’re hearing it from your play groups, your mom network and through your mom discussion groups and social networks online. So it only makes sense that we’ve created a community of in-the-know moms to bring you daily deals on everything from restaurants and spas, to kids and family events, to hotels and weekend getaways and other great products and services.
Since we first launched in San Francisco back in May, we’ve been growing our service to reach the moms and families across the U.S. in Southern California, Minneapolis, Chicago, Washington, D.C., New York, and more through our mom sales network. Even with our growth to over 20 cities, we’re still constantly hearing from moms who are asking for us to bring them Plum deals or from moms who want to join our sales team and help build out new local districts. Today we are sharing the news that we’ve received funding by Kleiner Perkins, Caufield & Byers and General Catalyst Partners to do just that. Their investment of $8.5 million will allow us to expand our reach into more local districts such as Portland, Dallas, and Raleigh-Durham in the coming year.
In addition to this investment, we’re excited that Aileen Lee, partner at KPCB, will join our board of directors. Aileen brings to us a wealth of expertise and experience with well-known consumer brands like GAP and Odwalla, and digital and e-commerce companies like One Kings Lane and Shopkick. Not to mention, as a mom of three herself, Aileen has a special interest in Plum District and can identify with the many moms on our team and in our membership at Plum.
And last but not least, we’re thrilled to give you a preview of some great deals to come. Best Buy Geek Squad, Drugstore.com, and eBags.com will join our list of vendors for the first time in the coming weeks, so be on the lookout!
Thanks again to all of our members and team members at Plum District. We are excited about joining the Kleiner family and about the road ahead. The full press release is below.
Plum District Raises $8.5 Million in Funding Led by Kleiner Perkins Caufield & Byers
SAN FRANCISCO, CA – January 26, 2011 – Plum District, (www.PlumDistrict.com), the daily deal website devoted to savvy moms and their families, today announced that it has received $8.5 million in Series A funding led by Kleiner Perkins Caufield & Byers, with participation by General Catalyst Partners. KPCB partner, Aileen Lee, will also join the Plum District board.
Now spanning more than twenty metro areas or “Districts” in the U.S., including various cities in the San Francisco Bay Area, San Diego, Orange County, Los Angeles, Chicago, New York, Washington DC and Minneapolis, Plum District’s multi-level marketing sales approach– for moms, by moms–allows the company to bring members the best local and national deals on groceries, family outings, children’s classes, restaurants, spa treatments, fashion, travel, etc. The moms that make up Plum District’s sales force find highly targeted promotions and discounts for moms and families and also network within mom communities to build viral buzz and awareness.
“The early response from our members has far exceeded our expectations,” said Megan Gardner, Plum District CEO. “The investment by Kleiner Perkins and General Catalyst Partners will allow Plum District to grow our sales network of moms and meet the demand of our members by expanding our reach beyond the twenty districts we currently serve.”
Aileen Lee, KPCB partner, added, “We are excited about Plum District’s focus on the highly valuable consumer segment of moms and families. By leveraging their large and growing network of connected and trusted moms across the country, Plum District offers the best local services and national brands that are most relevant to moms.”
About Plum District
Plum District is a daily deal Web site geared towards smart, savvy moms. Each day, Plum District sends members a deal that relates to them and their busy lives – everything from spa treatments and restaurants to family outings and kids’ activities. Plum District is unique in that it is solely focused on moms and deals are sourced by moms that will make their lives easier or more enjoyable. For more information, visit www.PlumDistrict.com.
About Kleiner Perkins Caufield & Byers
Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 500 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign, and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm’s portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions.
See the press release on Plum District.
About the author
Megan Gardner is the CEO of Plum District — the #1 daily deal site for moms. As the daily deal space continues to grow, Plum District continues to leverage the tremendous power of moms in ecommerce and most importantly as ambassadors in their communities. As a woman entrepreneur herself, Megan has helped revolutionize the way Plum District does business — not just with vendors but also with the sales team. Plum District ultimately provides a platform for influential moms in their communities to become entrepreneurs – while ultimately maintaining their status as CEOs of the household. Plum District thrives under the assumption that everyone has an interest in the success of women-led businesses — everyone. Megan is a thought-leader on woman entrepreneurship not only within the Plum District fold but also in the business world at large. In April she was asked to sit on a panel at the Wall Street Journal Women in the Economy Conference and speak on behalf of women entrepreneurs. She has been interviewed by Fox News Channel, Technorati, Fast Company, The San Francisco Examiner, and Forbes. Follow @mgardnernd on Twitter!
|Print article||By Megan Gardner - CEO | Posted in Mom Time | RSS 2.0.|
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