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Shoe retailer secures funding

Wednesday, July 6, 2005 | 10:48 a.m.

Las Vegas-based Zappos.com announced Tuesday that it has secured $15 million in equity funding to support its sales growth and customer service focus.

Sequoia Capital invested the venture capital, bringing Sequoia's total investment in the Internet-based shoe retailer to $35 million in eight months. Michael Moritz is the active partner of Sequoia Capital and sits on the retailer's board of directors.

Zappos.com moved to Las Vegas last year from San Francisco and has since quadrupled its staff to 200 employees. Its distribution center has about 300 employees and is based in Kentucky. The privately held company expects gross sales to exceed $300 million this year.

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