What Are Some Ecommerce Companies Being Acquired by Big Corporations?
In this article, we’ll take a closer look at some of the eCommerce companies being acquired by bigger corporations. We’ll cover Luxclusif, ThredUp, Etsy, and 123inkt. But first, we’ll briefly discuss the different reasons why these companies are being acquired. After all, there’s a reason why these companies are in such high demand. But, what makes them unique?
(Looking for a Digital Agency? Contact us today!)
Farfetch has announced its acquisition of Luxclusif, an eCommerce platform for luxury resale. The acquisition will allow Farfetch to accelerate its resale capabilities by adding key technology and service features. The company will also expand its Farfetch Second Life platform. Farfetch and Luxclusif have worked together on several projects over the last several years. Farfetch plans to use Luxclusif’s technology to help it expand its resale services and expand its geographical presence.
The acquisition will also enable Farfetch to continue its pre-owned business. The company will continue to source pre-owned pieces from luxury consumers and specialist suppliers. The company will also continue to run similar programs for other luxury industry partners, including white-label pre-owned propositions for brands that use Farfetch Platform Solutions. It is not clear how much the acquisition will impact Luxclusif’s future growth.
123inkt is a Dutch e-tailer of office supplies and print cartridges. The company is estimated to be worth 500 million euros. Since their last annual figures, the company has grown significantly. Currently, the company sells supplies to individuals and businesses. In addition to office supplies, the company also sells batteries and LED lamps. It is unclear what type of deal this is or why it is being purchased.
In an era of fast fashion and the consumer’s desire to be environmentally friendly, ThredUp is poised to benefit from the resale economy by partnering with brands and retailers. Through its marketplace and resale experience, thredUP can create a better consumer experience and boost conversion rates for both brands and retailers. Now, thredUP has partnered with Walmart and eBay to expand its customer base.
ThredUp is an eCommerce company that sells thousands of pieces at a steep discount. The company has already beaten competitors Marshalls and T.J. Maxx in the off-price category. In one recent survey, 50 percent of its customers said they had replaced their off-price purchases with items from ThredUp. The company plans to one-up these retailers by using its valuable ongoing data.
The recent news about Etsy and other eCommerce sites getting acquired sparked speculation in the eCommerce space. Since it was founded in 2005, Etsy has struggled to blend its do-gooder mission with the realities of corporate life. In 2017, the company laid off 15 percent of its workforce. During this time, the company hired a new CEO, Josh Silverman, who was previously a board member. He is expected to focus on increasing profits and establishing an eCommerce brand.
In the process of acquiring Elo7, Etsy expanded its focus to Latin America, a market that has grown significantly in recent years. Brazil has consistently posted double-digit growth rates from 2015 to 2017 and is among the emerging markets making major shifts toward online activities. In addition to Etsy, Amazon is also expanding its presence in the country and has recently opened its marketplace to outside sellers in Brazil.