Sunbridge Global Ventures, Inc. (headquarters: Shibuya-ku, Tokyo) has invested $100,000 (approximately 9.3 million yen) in Material World, a New York-based used fashion marketplace and social networking site, through its Sunbridge Startups LLP.
Material World is a social networking site where users can directly buy and sell their own fashion items. It was founded by Rie Yano, who met while studying at Harvard Business School and previously worked for Coach and Ralph Lauren, and Jie Zheng, a Chinese national.
Users can showcase their favorite fashion items on their personal "closet" page, building a community by gaining the support of other users. When users want to sell a registered item, they can list it for sale with one click. Currently, clothing, shoes, and bags from a variety of brands, including Marc Jacobs and Prada, are listed on the site.
The beta (test) version is currently available, with full launch scheduled for this spring. The service is currently limited to sellers in the US, but plans are underway to roll out to other countries later this year, with a mobile app also in the works.