Fits.me, the company solving the problems of online clothing fit (through robots) announces it has been acquired by Rakuten, the japanese e-commerce giant that’s been growing steadily through acquisitions and joint ventures since 2007.
The whole “online fit” problem rose up pretty quick the last four years with entrepreneurs across the Nordics and Baltics promising to lower return costs for online retailers. But listening to the messaging by the acquired company today, it’s not cost savings that Fits.me is selling – it’s personalization for marketers.
Over the course of covering Fits.me, I’ve gone from being excited about robots to wondering how I ever thought robots (that didn’t wear pants for years) would be scalable or silver bullet solution for ecommerce companies. Despite that, Fits.me is still beating the drum, providing photo-realistic images of how an article would fit on your body. The company also now employs over 60 operations and commercial staff in London, New York, and at three sites in Estonia, which provide its development, research and support operations.
The company will operate as a stand-alone business within Rakuten to support its current and future clients.
Investors Conor Venture Partners, Entrepreneur’s Fund, Smartcap, Contour Venture Partners and Primary Venture Partners, as well as CEO James B. Gambrell and several angel investors.