News
W Squared provides retained technology leadership, technology support, finance, accounting and payroll services to Taigan.
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November 5, 2009
Online Retail Community Launches with $1.7M Backing
Taigan.com creates e-commerce presence for specialty stores
By Erin Lawley
Backed by nearly $1.7 million in private equity, a group of Nashville entrepreneurs have begun building a virtual mall for specialty retailers and their shoppers.
Taigan.com provides shops from across the country, including as Nashville’s Corzine & Co., J. Michael Clothier's and Richter Gallery, with a centralized e-commerce presence where consumers can browse and buy online. Shoppers pay a $15 monthly or $180 annual fee to join, which lets them shop, contact and receive alerts from each retailer, create lists of favorite items and stores, and read original editorial content.
Elizabeth Nichols, who's been involved in local real estate and start-up businesses in the past, is Taigan's chief executive officer. She founded the company in conjunction with Mark McDonald, CEO of Value Payment Systems in Green Hills, and Mary McClellan, wife of local health care investor David McClellan. David McClellan told NashvillePost.com that he has personally invested in the business.
Taigan's site went live in mid-September and now has 30 retailers from Atlanta, Chattanooga, Aspen and New Orleans, among other cities. Products include apparel, health and beauty products, home goods, gourmet food, art and antiques, jewelry and shoes and accessories.
"Our strategy is by aggregating a group of them, it gives us more muscle to present them and help them be found by more consumers who want to make retail purchases online," Nichols said.
According to a document filed with the Securities and Exchange Commission, Taigan's holding company, Mac Mac LLC, raised $1,697,500 in equity from 20 investors who made minimum contributions of $12,500 each. The date of first sale was Oct. 10.
Nichols said the capital is going toward continued technology development, sales support and marketing.
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W Squared provides retained technology leadership, technology support, finance, accounting and payroll services to Taigan.