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JP Selects, an online shopping portal for eco-conscious consumers operated by applications and services company ROK Global, has acquired competitor LovingEco in a move that marks consolidation in the ‘green shopping’ space.
The deal was small: the ROK Global unit paid only $1 million for the business and LovingEco will be folded into the JP Selects offering, with key staff joining JP Selects as employees and shareholders.
LovingEco is billed as a ‘green commerce’ online marketplace. Like JP Selects, it’s a members-only platform that promotes eco-friendly and sustainable products, brands and companies through online flash sales.
LovingEco had raised a seed round of funding from Machinima CEO Allen Debevoise, comScore executive Emily Della Maggiora, former Sapient exec Douglas Abel and Jackie Wilgar, SVP Marketing at Live Nation Entertainment.
The company was founded by Justine Lassoff (CEO), who previously worked in marketing for companies like Virgin, MGM and FirstLook.com, and entertainment marketing specialist Melinda Moore (president).
ROK Global was co-founded by American billionaire and philantropist John Paul DeJoria and UK-based serial entrepreneur Jonathan Kendrick.
The latter commented on the news thusly:
“LovingEco has done extremely well in the fascinating and rapidly developing green commerce market. We took the view that acquiring LovingEco would be far more productive for both parties than on-going competition between us.”
The company recently announced a partnership with Xiu.com, a Chinese online luxury and fashion shopping portal backed by a $100 million capital injection from KPCB and Warburg Pincus, to launch JP Selects in China.
JP Selects currently boasts a portfolio of more than 3,000 sustainable products.
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