USA: Draper Fisher Jurvetson Gotham Announces Textrade.com Investment
Draper Fisher Jurvetson Gotham Ventures today announced its participation in the $10m Series A financing for Textrade.com (formerly Global Textile Network, Inc). Based in New York City, Textrade has created an Internet-based exchange which provides a trading, communications and information platform for the entire spectrum of products and services negotiated daily by the $500bn international textile community. As part of the investment, Ross Goldstein, a managing partner of Draper Fisher Jurvetson Gotham, has joined Textrade's board of directors."We are excited to be part of Textrade's successful efforts to bring the global textile industry online," said Mr. Goldstein. "We believe that the market segment that Textrade is focused on - fibers, yarns and unfinished textiles - is fragmented and conducive to a successful online business. With their years of experience in both the textile and Internet businesses, we believe that Textrade.com's management is the right team to address this $500 billion market opportunity.""We look forward to working with the Draper Fisher Jurvetson Gotham team," says Robert Cox Jr, Textrade.com's CEO. "Being a part of their global network will help facilitate many of the important relationships that will be crucial to our success."
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