wp-plugin-hostgator
domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init
action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114ol-scrapes
domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init
action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/05\/31\/sellerx-acquires-us-e-commerce-roll-up-rival-elevate-brands-in-an-all-share-deal-raises-64m\/<\/a><\/br> E-commerce aggregators have collectively raised hundreds of millions of dollars over the last several years to push ahead on strategies to consolidate a number of smaller online retailers. Now, the aggregators themselves are the ones getting swallowed up.<\/p>\n Today, SellerX<\/a>, a Berlin-based roll-up play that has raised nearly $900 million in equity and debt and is valued at more than $1 billion<\/a>, announced<\/a> that it would acquire Elevate Brands<\/a>, based out of Austin and NYC. Elevate, like SellerX, is in the business of buying up smaller retailers that sell over marketplaces like Amazon, but it\u2019s a fair bit smaller, with some $250 million<\/a> raised to date.<\/p>\n The companies are not disclosing the value of the deal but note that it\u2019s an all-share deal, and it will also include a new investment of \u20ac60 million+ ($64 million) in the combined entity from existing SellerX investors Sofina as the lead, plus L Catterton, Cherry Ventures, Felix Capital, 83North, Upper90 and TRCM Fund also participating, along with an extended credit line from BlackRock and Victory Park Capital funds to buy up more companies.<\/p>\n The merged company will be called SellerX Group, led by SellerX\u2019s current co-CEOs and co-founders Philipp Triebel and Malte Horeyseck (Elevate\u2019s co-founders Ryan Gnesin, Jeremy Bell, Robert Bell respectively as president, head of M&A and global business development head.<\/p>\n It will have 80 Amazon-native brands and annual sales of \u20ac400 million ($426 million). The deal is expected to close by the end of next month (June).<\/p>\n Roll-up plays have a tendency to start all looking like each other \u2014 there are only so many variations on \u201ceconomies of scale for Amazon merchants\u201d, and for a few years, pre-2022, it looked like anyone building an aggregator startup could pick up $50 or $200 million to pursue the model.<\/p>\n It was for that reason that it only felt like a matter of time before the consolidators themselves would get consolidated. Now, that is what\u2019s happening, and in a somewhat ironic twist, it has not taken long for these consolidations to follow a pattern, too. It was only a month ago<\/a> that Razor Group, another aggregator based out of Berlin, also<\/em> acquired another roll-up business, Stryze, and closed off a big fundraise at a $1.2 billion valuation.<\/p>\n \u201cThe natural route is consolidation, that is the path forward. We\u2019re building a stronger company by joining forces. That is what you have seen and will see, and what we have executed,\u201d Razor\u2019s CEO and co-founder Tushar Ahluwalia told me at the time. \u201cPlus M&A is very close to the DNA of this space.\u201d<\/p>\n One point of differentiation among aggregators has been that some are aiming to build the technology stack that they are using both to source retailers to acquire, and to then run them more efficiently as combined businesses; and some are sourcing third-party software for these purposes, focusing instead on bringing management smarts into merging and running multiple e-commerce operations under one roof.<\/p>\n It sounds like SellerX placed itself in the former category, while Elevate identified with the latter more.<\/p>\n The new business will use SellerX\u2019s technology platform, supply chain infrastructure and \u201cproprietary warehouse operations,\u201d and \u201cinternationalization capabilities\u201d the company said, while \u201cElevate Brands will contribute its strong expertise in turning marketplace-native products into consumer brands sold across multiple channels.\u201d<\/p>\n \u201cElevate Brands and SellerX are a perfect match: a strong cultural fit, a shared vision, and complementary capabilities,\u201d Triebel said in a statement. \u201cThis acquisition combines our know-how and diversified portfolios of strong brands with a market-leading technology platform and strong operational infrastructure. By leveraging our combined strengths, I am convinced we are well-positioned to drive further consolidation in the industry.\u201d<\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nSellerX acquires US e-commerce roll-up rival Elevate Brands in an all-share deal, raises $64M+<\/br>
\n2023-05-31 21:56:08<\/br><\/p>\n