Ousted Men's Wearhouse founder has a new startup that rents you tuxes - and he tried to raise a big round at a $100 million valuation
The deck states the company was seeking a $40 million Series B round, at a $60 million pre-money valuation. It's already closed $20 million with up to $20 million still available, it says. One source with knowledge of the matter says the fundraising didn't go particularly well though, and much of the money Generation Tux has raised is actually Zimmer's.
Zimmer declined to comment on this article.
Perhaps best known for the "I guarantee it" catchphrases in old Men's Wearhouse ads, Zimmer was famously ousted by his board in 2013. A year later, he teased the crowd at Dreamforce, Salesforce's big annual conference, saying that he'd be launching his own startup, which turned out to be zTailors, a service that provides on-demand tailors and clothing delivery.