‘Dot-Coms’ Are Forever?
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Some people buy jewelry on Valentine’s Day, but Idealab is acquiring a stake in Buyjewel.com, an e-commerce site run by the second generation of a Michigan family that owns a major jewelry manufacturer.
Principals from Buyjewel.com will temporarily move from Ann Arbor to the Pasadena Internet business incubator as part of the deal, which will be announced today.
The site has already sold more than 50,000 items since its September launch.
Samuel Gniwisch, Buyjewel.com’s chief executive, said he expects Idealab to give the site the “entrepreneurial, strategic and tactical strengths needed to accelerate our growth.”
If so, it would come just in time: A Los Angeles-based competitor called Jewelry.com is set for online launch today.
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