Moda Operandi Is Looking for More Funding

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Lauren Santo Domingo. Photo: Will Ragozzino/Getty Images

Lauren Santo Domingo's e-commerce site Moda Operandi, the go-to source for $270 beach towels, is now seeking additional investors. At yesterday's Reuters Luxury and Fashion Summit, the site's co-founder and CEO Aslaug Magnusdottir announced that they've started their second round of venture capital funding (they got their initial funding from venture capital firm New Atlantic Ventures), adding that there's been a lot of interest from various parties. "The recent successes of Gilt [Groupe], Rue La La and Net-a-Porter being sold has really made this a much more interesting sector for a lot of investors," she explained.

Update: This post has been corrected from an earlier version.