- Boosted Commerce recently announced it has raised $87 million in funding and it has acquired six Amazon fulfillment (FBA) companies
Boosted Commerce recently announced it has raised $87 million in funding and it has acquired six Amazon fulfillment (FBA) companies as it scales quickly toward its goal of building a comprehensive e-commerce portfolio platform. Over the next four years, Boosted plans to acquire and develop 100 e-commerce Consumer Package Brands.
The investors in this round include Torch Capital, Crosscut Ventures, Spencer Rascoff (entrepreneur and co-founder of Zillow and Hotwire), Elie Seidman (former CEO of Tinder), Tucker Kain (President of Los Angeles Dodgers), Ken Ramberg (founder of Goodpods); Scott Hendrickson (co-founder and partner at Permian Investment Partners), Thomas O. Staggs (former Chief Operating Officer of The Walt Disney Company), Marc Mezvinksy (managing director TPG), and David Farahi (Chief Operating Officer of Monarch Casino & Resort Inc.)
Boosted Commerce is building a collection of third-party companies and brands with strong customer loyalty and sales on the Amazon and Shopify platforms. And Boosted Commerce offers these business sellers a 45-day closing process built on a commitment to fair, market value offers and ethical, transparent negotiations.
Now Boosted is positioned to accelerate growth for acquired entities due to its leadership team’s deep operations, marketing, and product sales expertise that is responsible for generating over $1 billion of M&A related businesses in both the online and offline sectors.
Boosted Commerce co-founder Charlie Chanaratsopon previously built a retail brand to 5,000 employees, 350 stores globally, and $500 million in revenue. Keith Richman co-founded Voi Technology, a leading European based mobility company and previously co-founded Break Media, OnePage, and Billpoint Inc. Anton von Rueden was previously COO of TechStyle Fashion Group and Managing Director of eBay Germany. Adam Epstein previously worked at consumer focused private equity firm Lion Capital. And Drew Lessard was previously a management consultant with Kearney.
FBA businesses have become online giants, representing 60% of gross merchandise sold on Amazon. And there are now 8 million third party sellers on Amazon with 367,000 joining this year alone, and 25,000 businesses generating more than $1 million in revenue a year.
KEY QUOTES:
“Amazon and Shopify have dramatically empowered thousands of online businesses who are generating billions of dollars in economic impact, creating countless jobs and unprecedented opportunities for small brands. We’re leveraging the hard work these entrepreneurs have put into creating popular brands used by millions of people and taking them to the next level.”
— Boosted Commerce co-founder Charlie Chanaratsopon
“Boosted Commerce is at the forefront of one of the largest e-commerce opportunities we have seen in recent years. It has never been easier to launch an e-commerce business. What is harder is transitioning a successful business to the next phase of growth. There are very few people in the industry that know how to do that better than Charlie. I’ve known Charlie for years and have watched him scale brands that are both beloved and highly successful. He and the Boosted team have a proven playbook for scaling e-commerce brands and they are the right partner for any entrepreneur wanting to catapult their business to new heights.”
— Jon Keidan, Founder and Managing Partner, Torch Capital
“We backed Boosted Commerce because they have all the right ingredients for success: A world-class team with proven success; a huge addressable market; and unmatched entrepreneurial passion by their founders.”
— Brett Brewer, Co-Founder and Managing Partner, CrossCut Ventures
“The founders of Boosted Commerce are world class entrepreneurs and operators. Their bold vision of acquiring and accelerating successful online businesses is a huge opportunity.”
— Spencer Rascoff, co-founder and former CEO of Zillow
