Storenvy

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Storenvy
Storenvy Logo.jpg
Type of businessPrivately held
Founded2010
Headquarters
Chico, California
,
United States
OwnerMoreCommerce, Inc.
Founder(s)Jonathan Crawford
Industrye-Commerce
URLwww.storenvy.com
Written inRuby on Rails

Storenvy is an e-commerce platform which consists of an online store builder and social marketplace, with over 90,000 merchants[1] and millions of products listed. Since launching in December 2012, there have been over $50 million in sales of products ranging from handmade goods to men's and women's apparel, jewelry, art, music, and home decor.

Services[]

Custom stores[]

Storenvy first launched as an online store builder in 2010. The platform allows store owners, makers, and artists to open an online store for free and customize it.

Storenvy marketplace[]

When merchants open a store on Storenvy, their products are also featured on the Storenvy marketplace, combining the aspects of a store builder and a marketplace.[2]

Pricing[]

Storenvy generates revenue through both subscription revenue and on commission fees from sales. This revenue directly funnels the marketing services the company provides to drive additional traffic to store owners.

History[]

In 2010, the store builder that would become known as Storenvy was launched.[3] In early 2011, the company raised a seed round of $1.53 million.[4] In late 2012, the Storenvy Marketplace launched with over 35,000 brands. Shortly thereafter, the company raised a Series A round, bringing total funding to over $6.5 million.

In Spring 2016, Storenvy was purchased by The Opensky Project [1]. Storenvy was later sold with other business assets to MoreCommerce Inc, an Alibaba Group subsidiary, and is still one of the largest revenue drivers of the business.

References[]

  1. ^ Angulo, Natalia (January 13, 2014). "Storenvy to Charge for Marketplace Sales in 2014". Fox Business. Retrieved 27 May 2014.
  2. ^ Carney, Michael (August 7, 2013). "Storenvy's store-builder and marketplace hybrid means that creators can focus on their products, not marketing". Pando Daily. Retrieved 27 May 2014.
  3. ^ Tsotsis, Alexia (February 12, 2013). "Storenvy Goes From Getting Kicked Out Of YC To Raising A $5M Round". Tech Crunch. Retrieved 27 May 2014.
  4. ^ Siegler, M.G. (January 27, 2011). "Storenvy Finds A Number Of Impressive Buyers For Its $1.5 Million Round". TechCrunch. Retrieved 27 May 2014.

External links[]

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