One Kings Lane, the US-based e-commerce company acquired by retail chain Bed Bath & Beyond in June this year, was bought for les than $30m, Recode reported yesterday.
Founded in 2009, One Kings Lane sold furnishings online through flash sales. It raised more than $225m from investors including media company Scripps Network, which participated in a $50m series D round in 2012.
The company’s last venture funding was a $112m series E round led by family office Mousse Partners in January 2014 which valued it at $912m. It had struggled in recent months and had cut staff heavily over 2014 and 2015.
Other investors in One Kings Lane include Institutional Ventures Partners, First Round, TriplePoint Capital, Kleiner Perkins Caufield & Byers, Greylock Partners and Tiger Global Management.