Type | Private |
---|---|
Industry | M-commerce E-commerce, Retail |
Founded | 2013 |
Founders | Alan Tisch, Ara Katz, David Tisch, Octavian Costache |
Defunct | 2019 |
Headquarters | |
Website | www |
Spring was an E-commerce platform that connected retailers and shoppers using a direct-to-consumer sales model. [1] The company, headquartered in New York City, launched its mobile marketplace on August 14, 2014. [2] It raised over $30 million in venture funding by 2015. [3] The platform was recognized by Apple as one of the Best apps of 2014. [4] In October 2018, the membership service ShopRunner announced the acquisition of Spring [5] and closed the platform in 2019. [6]
Spring was founded in 2013 by the brothers Alan and David Tisch, former Google employees, Octavian Costache, and Ara Katz. The company originally operated as Jello Labs, and announced the name change to Spring in July 2014 when it raised $7.5 million in Series A round funding led by Thrive Capital. [7] [8] The company chose the name Spring to mirror the shopping area on Spring Street in SoHo, Manhattan. [9] The app was officially launched on August 14, 2014, with 250 brands selling their products on the iPhone-based platform. [10] In April 2015, Spring raised $25 million in a Series B round of venture funding led by Box Group that included Yuri Milner, Google Ventures and Thrive Capital. [11] Spring launched a desktop version of the shopping platform in November 2015. [12] [13]
In March 2016, Spring launched a "personal shopping assistant" on Facebook's bot store. [14] In December 2016, Spring had 1,300 brands on the platform including Marc Jacobs, Helmut Lang and Coach. Spring raised $65 million in a Series C round of venture funding led by Fidelity Investments that included previous investors in May 2017. [15] As of May 2017, Spring sold items from over 1,500 retail brands [16] [17] and had a gross value of over $100 million. [18]
Spring was launched using a mobile first or m-commerce strategy and the company operated without a website until 2015. [12] It did not stock any inventory directly, and instead used a drop shipping methodology to fulfill orders. [19] The site also curated personalized collections and offered users brand recommendations. [20]
Wix.com Ltd. is an Israeli software company, publicly listed in the US, that provides cloud-based web development services. It allows users to create HTML5 websites and mobile sites through the use of online drag and drop tools. Along with its headquarters and other offices in Israel, Wix also has offices in Brazil, Canada, Germany, India, Ireland, Japan, Lithuania, Poland, the Netherlands, the United States, Ukraine, and Singapore.
Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Shopify is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. The Shopify platform offers online retailers a suite of services including payments, marketing, shipping and customer engagement tools.
InMobi is an Indian multinational technology company, based in Bengaluru, India. Its mobile-first platform allows brands, developers and publishers to engage consumers through contextual mobile advertising. The company was founded in 2007 under the name mKhoj by Naveen Tewari, Mohit Saxena, Amit Gupta and Abhay Singhal.
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Tictail was a social shopping website for shoppers to discover emerging designers around the world. For brands, the platform was a DIY e-commerce tool focused on strong community integration, simplicity of use, and attractive, customizable design. With no need for coding or web-design experience, small business owners were given the tools to build global brands. For shoppers, Tictail was a destination to discover and shop home decor and fashion finds from a global community of emerging designers. Founded in Stockholm, Tictail currently has offices in both Sweden and New York where it opened its first brick-and-mortar store in January 2016. In November of 2018, Tictail was sold to Shopify. The acquisition by Shopify also resulted in Tictail’s brick-and-mortar store in New York City closing.
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Carousell is a Singaporean smartphone and web-based consumer to consumer and business to consumer marketplace for buying and selling new and secondhand goods. Headquartered in Singapore, it also operates in Malaysia, Indonesia, the Philippines, Cambodia, Taiwan, Hong Kong, Macau, Australia, New Zealand and Canada. Carousell is available on both iOS and Android devices.
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David Tisch is a businessman and angel investor based in New York City. He is managing partner of BoxGroup, a seed-stage capital firm, and a co-founder of TechStars New York City. He is the grandson of American businessman Laurence Tisch, co-owner of Loews Corporation. His great-uncle, Preston Robert Tisch purchased the New York Giants, now co-owned by Steve Tisch, who produced the films Forrest Gump and Risky Business.
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