Eleven James, a subscription watch startup that shut down after burning through $40 million, is auctioning off its domain at GoDaddy auction for less than $3K
Many of you have probably never heard of Subscription watch club Eleven James. The New York City-based startup started back in 2013 as a lifestyle brand to pioneer the luxury experience for the digital age. Eleven James supposedly had thousands of members at its peak. Before the shutdown, Eleven James raised a total of $40M in funding over 5 rounds. Their latest funding was raised on Nov 29, 2017. Now its virtual address, ElevenJames.com is put up for sale.
Then in August 2018, disaster happened. The once high-flying watch-lending service startup was no longer responding to his emails. Then its website was unresponsive, failing to load over and over again. A quick look at the company’s recent social media activity revealed that, depending on the platform, the company’s channels haven’t posted any new content since May or June 2018.
Two years later, ElevenJames.com is now for sale at GoDaddy auction. According to GoDaddy, the startup’s domain name is estimated to be worth over $3,000.
ElevenJames was founded in 2013 by Olivier Reza, Randy Brandoff, and Rotimi Akinyemiju, Eleven James dubbed itself as lifestyle brand that is pioneering the luxury experience for the digital age. Through a subscription model, the company lets members select and wear the world’s most beautiful timepieces for a few months at a time, allowing them to discover, explore, and play in a world of luxury that has been restricted by the burdens of commitment and ownership.
The company has pioneered a first-of-its-kind consignment channel for this asset class, creating a unique supply that reflects a diversity and depth of luxury timepieces unmatched and untapped by traditional wholesalers and retailers.