DUBAI, UNITED ARAB EMIRATES, GlamBox, an beauty-product sales website, has received $1.36 million from a group led by STC Ventures, and will use the funding to expand into Saudi Arabia.
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A Dubai-based online beauty product vendor has announced a $1.36 million investment led by the venture capital arm of the Saudi Telecommunications Company, and will use the investment to expand into Saudi Arabia.
GlamBox has raised $1.36 million from STC Ventures, MBC Ventures, and R&R Ventures, according to published reports. GlamBox sells cosmetics through its website, either individually by item or through subscriptions to monthly bundled box sets of products. The company has sister companies in Brazil, Denmark, and Norway, all of which are operated by former business school classmates.
The company has recently introduced a discount rewards program called GlamPoints, that offers customers discount vouchers for repeated business.