Boston Common - Niche Media - A side of Boston that's anything but common.
Issue link: http://www.ifoldsflip.com/i/78062
PHOTOGRAPHY BY JOEL BENJAMIN Superlatives matt lauzon W VIEW FROM THE TOP A GEM OF AN IDEA HAS MADE THIS AMBITIOUS ENTREPRENEUR THE FIFTY- MILLION-DOLLAR MAN. BY REBECCA KNIGHT ith his grown out buzz cut, scruffy beard, and open- necked shirt, Matt Lauzon may look like just another brash Internet whiz kid who started a multimillion- dollar business from his college dorm room. But at his core, Lauzon (pronounced low-ZON), the founder and CEO of online jewelry retailer Gemvara, is an eternally humble son of Maine who radiates small-town values and boyish exuberance. His company, which has about 70 employees—mostly based in downtown Boston, with a handful in New York City—is on a hot streak. This summer Gemvara announced it had raised $25 million in new venture capital, bringing the total funding it has received to $51 million. While the two-year-old company is mum about its revenue, sources close to Gemvara say it is on track to earn nearly $30 million this year. "We're starting to become more recognized as a brand," says Lauzon, 27. "There are a lot more people who are interested in investing. They hear about our business, and they believe it's a multibillion-dollar opportunity." What differentiates Gemvara from conventional jewelers is its customer-centered business model. Unlike brick-and-mortar stores, Gemvara carries no inventory. It sources diamonds and gemstones continued on page 60 BOSTONCOMMON-MAGAZINE.COM 59 PEOPLE, CULTURE, STYLE