Seed Stage Slaughter

ToVieFor, Graduate of the First TechStarsNY, Started Winding Down Two Months After Demo Day

ToVieFor

New York-based ToVieFor, a members-only auction site for women’s luxury goods, has closed up shop after about a year of building the business followed by a spring at TechStars. The site is shuttered, the Twitter account is down, Tumblr is quiet, and co-founder Melanie Moore changed her LinkedIn profile to the past tense. “On the surface, we shut down because we ran out of money,” Ms. Moore said. “However, the root cause of this was a flawed business model. We were attempting to compete solely on price in a world where brands not only do not compete on price, they have essentially formed an oligopoly and set prices (vs take prices). As a result, it was incredibly difficult to convince brands to allow us to change up their pricing structure. And in retail, having those brand partnerships is critical to survival.” Read More