Cond? Nast Reveals Investment In Jewellery Startup, As Media Scrambles For New Revenues

In yet another an indication that big media powerhouses are starting to refocus their businesses on driving new models like commerce, publishing giant Cond? Nast has made what is understood to be its first investment in an e-commerce startup in Europe. Cond? Nast Germany has invested in Ren?Sim, one of Europe?s first online jewellers in the luxury category. The premium publisher, best known for titles like Vogue magazine, said it had actually owned shares in the company since 2011, but has now raised its stake to 46% in a capital increase. Cond? Nast already owns Reddit, although this is a publishing play, not e-commerce.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ArP_RSjDsTM/

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