Nastygirl Files Bankruptcy- Boohoo will acquire it.
$20-million is what a British online retailer Boohoo.com will buy Nasty girl for.Heavy advertising expenditures and marketing caused a big dent in the companies financials and it just could not keep afloat any longer.
The company started on Ebay with much success.The new company, Bohoo will keep the companies website.Sophia Amoruso , the CEO had resigned and then things started to falter. She was the darling of her brand, but when she started moving on to other things, the brand suffered. Investors started taking a disappointed view. She had raised $64 million in venture capital financing.
Amoruso authored the New York Times bestseller #GirlBoss. She also has a Neflix show in production with the Girlboss name,and has hosted a popular podcast- Girlboss.
Amorusa quoted to Forbes: “I didn’t love having eight people reporting to me and asking me over and over if we’re hitting targets,” she said. “I’m a creative. I’m a brand-builder. I’m a rainmaker. I’m a pretty good marketer, but that’s not something I want to do every day.”