Led by ex-Amazonians, Acquco raises $160M to buy and scale e-commerce businesses
There has been a flurry of investments in startups focused on acquiring third-party sellers on Amazon and helping them build their businesses.
The latest is Acquco, which aims to stand out from the others in that it was formed by a pair of founders Raunak Nirmal and Wiley Zhang who actually worked at Amazon, and then built multimillion-dollar businesses on its platform.
The New York City-based startup has raised $160 million in debt and equity in a Series A round that it says will fund its “aggressive growth plans.” CoVenture, Singh Capital Partners, Crossbeam and other notable investors such as GoDaddy CEO Aman Bhutani put money in the equity portion of the round. Acquco would not disclose the valuation at which the money was raised, nor the exact breakdown of debt and equity, other than to say “a significant portion was equity.” But CEO Raunak Nirmal did share a few other notable things.
In today’s ExchangeWire news digest: Gray Television acquire 17 of Meredith’s TV stations as the media firm focus on their publishing and digital assets businesses; Berlin Brands Group look for American sellers to bring to the European market; and Facebook report higher-than-expected revenues for Q1, but remain wary of the impact that ATT will have on their future ad sales.
Gray Television acquire Meredith TV stations
Gray Television have inked a deal to buy 17 of Meredith Corporation’s TV stations for USD $2.7bn (£1.9bn). The move will increase Atlanta, Georgia-based Gray’s holdings to 101 outlets across 113 US markets, bringing the firm’s national reach to 36% of all US households.
One of the biggest funding trends of the past year is companies that consolidate small e-commerce brands. Many of the most notable startups in the space, like Thrasio, Berlin Brands Group and Branded Group, focus on consolidating Amazon Marketplace sellers. But the e-commerce landscape is more fragmented in the Asia-Pacific region, where sellers use platforms […]
Singapore-based Rainforest is one of the newest entrants in the wave of startups that “roll-up” small e-commerce brands. Launched in January by alumni from some of Southeast Asia’s top startups, including Carousell, OVO and Fave, Rainforest acquires Amazon marketplace sellers. This is similar to the Amazon-centric approach taken by Thrasio, Branded Group and Berlin Brands […]
Founded by former Carousell and Fave execs, Rainforest gets $36M to consolidate Asia-Pacific Amazon Marketplace brands yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.