
Vanitee
Bridging the gap between beauty artists and consumers.
USD | 2021 | 2022 | 2023 |
---|---|---|---|
Revenues | 0000 | 0000 | 0000 |
EBITDA | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Vanitee operated as a Singapore-based online and app-based marketplace for on-demand beauty services. The platform was founded in 2014 by a team of serial entrepreneurs: Douglas Gan, Kuik Xiao Shi, Peng Kong Choy, and Meters Ang. The venture evolved from a previous beauty-sampling business named VanityTrove, which was established in 2012 and pivoted to the marketplace model in 2015 to address a gap in the market for connecting freelance beauty professionals with customers.
The founders brought a wealth of tech and business experience. Douglas Gan, the CEO, was a recognized technopreneur who had previously founded and sold ShowNearby, a location-based mobile application. His co-founders, including CTO Peng Kong Choy, also had backgrounds in technology and digital media. This collective expertise was applied to the beauty industry, aiming to empower independent artists who lacked a dedicated platform. The company's initial focus was on freelance artists before expanding to include salons.
Vanitee's mobile app, available for Android and iOS, allowed users to discover, book, and pay for a variety of beauty treatments such as hairdressing, makeup, massages, and facials at their preferred location, be it home, office, or a hotel. For beauty professionals, the platform offered a suite of business management tools, including customer relationship management (CRM), real-time scheduling, revenue tracking, and invoicing. This created a dual value proposition: convenience and choice for consumers, and a business-in-a-box solution for beauty providers.
The company successfully raised a total of $4.95 million over two funding rounds in 2015. Investors included Luxasia, a major beauty distributor; Robert Yap, the head of a leading logistics company; Ivan Lee, founder of the Thai Express restaurant group; and the prominent Japanese cosmetics portal, @cosme. A significant milestone was the acquisition of Mefitted, a beauty salon directory and deals site, in a six-digit deal in 2016. This move was strategic, aimed at strengthening Vanitee's B2B offerings by integrating Mefitted's network of over 120 salon brands and 8,200 businesses into its platform. Despite these achievements and initial traction, the company is now considered deadpooled.
Keywords: on-demand beauty services, beauty marketplace, Singapore startup, freelance beauty artists, mobile beauty booking, Douglas Gan, Luxasia, beauty tech, salon booking app, Mefitted acquisition, VanityTrove, cosmetic services, appointment scheduling, wellness marketplace, beauty professionals platform, in-home beauty, mobile CRM, beauty service directory, Robert Yap, Ivan Lee