Quidsi Inc. Secures $20 Million Round of Mezzanine Financing Led by Pinnacle Ventures

Parent Company of Diapers.com Will Use Capital to Continue Expansion of Fastest Growing Online Retail Site


JERSEY CITY, NJ--(Marketwire - April 20, 2010) -  Quidsi Inc. today announced the closing of a $20 million round of mezzanine financing led by Pinnacle Ventures, a private venture capital fund focused on providing debt and equity financing to early-stage companies. This round of funding will help support the ongoing growth of Diapers.com, the largest online baby care specialty site in the United States. This investment follows the recent $30 million financing led by Menlo Park-based New Enterprise Associates in October 2009.

Since launching in 2005, Diapers.com has become the premier online destination for baby goods and the fastest growing online retailer in the United States. The site offers free overnight shipping on everything from diapers, wipes, formula and baby food to shampoo, cribs, car seats, clothing, strollers and more, with the best prices online. Diapers.com currently offers more than 12,000 products, with plans to add thousands more by the end of 2010.

"With a fast-expanding list of 500,000 loyal customers, Diapers.com is poised to become one of the largest and most well-known e-commerce brands in the world," said Patrick Lee, Partner at Pinnacle Ventures. "Given the momentum this company has established, its legion of passionate fans, and its sophisticated back-end infrastructure, Quidsi is one of the most promising players in online retail and we are proud to contribute to their continued success."

"We're constantly thinking of new and better ways to make life easier for parents, and this additional capital is further validation of our customer-centric approach to online retail," said Marc Lore, CEO of Quidsi Inc. "This round of financing gives us even more resources to push the envelope when it comes to wowing our customers and continue our trajectory as the fastest growing online retailer in the US."

About Diapers.com
Diapers.com is the largest online baby care specialty site in the United States, offering everything moms and dads need for their babies, including diapers, wipes, formula, baby food, shampoo, strollers and more. Diapers.com makes life easier for parents by offering the lowest prices online, along with the convenience of fast, free next-day shipping and a level of customer service that is shockingly great. Thanks to an ever-expanding brigade of more than 500,000 happy moms and dads who cheerfully spread the word on where to find "the best deal on diapers and more," Diapers.com is the world's fastest growing e-commerce destination. For more information, go to http://www.diapers.com.

Contact Information:

Media Contact
Tessa Greenwood or Lindsey Scott
LaunchSquad
415.625.8555
quidsi(at)launchsquad(dot)com