Gwyneth s Goop banks $50 mn for European expansion

Los Angeles March 30 (IANS) Actress-entrepreneur Gwyneth Paltrow has raised $50 million in venture capital money for Goop the lifestyle media and e-commerce company she founded and has set her sights on Europe for its next stage of growth.

The Series C round included participation form new and existing investors including NEA Fidelity Management and Research Co Lightspeed Venture Partners and Felix Capital. It brings Santa Monica the California-based Goop s total outside investment to $82 million reports variety.com.

The 150-employee company has a post-money valuation of $250 million.

According to the company which Paltrow founded in 2008 as a newsletter Goop already has a strong international audience with 35 per cent of its current readership outside the US.

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