Gwyneth Paltrow’s lifestyle website Goop, fresh off a $10 million cash infusion, could soon be looking for a bigger space in L.A.
The luxury lifestyle and e-commerce website, which already has offices in L.A., New York and London, will be centralizing its operations in L.A. and moving its corporate team out west from its New York headquarters at 745 Fifth Avenue, it announced this week.
It wasn’t immediately clear if the company, founded eight years ago by the “Shakespeare in Love” actress, was scouring for new digs in L.A, where it’s reportedly based out of a rustic barn owned by Paltrow up in the canyons.
Goop raised the $10 million in funding from three venture capital firms, NEA, Felix Capital and 14W Venture Partners, according to Fortune. The cash will go toward expanding the company’s direct-to-consumer business platform and investment in product development. It will keep a small office in New York after its move to the West Coast. [Fortune] — Cathaleen Chen