CommerceTech - Teardown | Cart.com
Teardown | Cart.comFounded in 2020, Cart.com has raised close to $500M to acquire and develop a suite of eCommerce enablement solutionsThese briefs are produced by leveraging publicly available data sources and information. If you notice a mistake or see an area for improvement, please let us know through this typeform or via email (team@sandhill.io). Snapshot
Overview & ProductsCart.com provides merchants with a number of features to grow and operate their eCommerce business under one roof. These functions include tools such as multi-channel management, storefront building, fulfillment, marketing, payments, and customer service software. The website provides details of what its platform offers:
Business Model & PricingCart.com generates revenue in several different ways depending on the needs of its merchants. Merchants are able to sign up and leverage the entire platform or pick which features they need à la carte. Services are priced differently depending on the offering. For example, the online storefront charges a base subscription fee and then takes a % of the sales. Meanwhile, shipping services are charged on a per-order basis. Exact pricing across the suite is not provided on the parent company’s website but can sometimes be viewed by going to the pricing pages for its various acquisitions, as with its Americommerce product. Price points are in line with competitive offerings in the industry. TractionIn just under 2 years, Cart.com has been able to scale quickly through its acquisition-based strategy. In June 2021, the CEO shared that the company was expecting to hit a revenue run rate of over $80M by the end of the year. According to its website, the company currently has 3000+ brand customers and 850+ team members as of Q1 ‘22. According to a company press release, Cart.com had processed more than $3B in GMV and had opened 9 fulfillment centers in the year leading up to Feb 2022. Revenue was reported to have increased by more than 400% in that time. Cart.com had made 10 acquisitions as of Feb 2022. Additional information on the traction of its subsidiary companies is shared below in the History and Evolution section. Founder(s) & TeamOmair Tariq: Co-founder and CEO. He was previously the COO & CFO of Blinds.com, a Home Depot company. Jim Jacobson: Co-founder and Executive Chairman. Jim has over 25 years of entrepreneurial experience, founding 4 companies with a combined value of over $3B. History & EvolutionCart.com was founded in 2020 with a mission to create a platform that makes the process easier for online brands to scale. The company was founded on the principles of closing gaps in the eCommerce space and building economies of scale for its partner merchants. In its short operating history, Cart.com has achieved tremendous growth, with acquisitions being a central part of its growth strategy. Key Acquisitions and partnerships that Cart.com has engaged in include:
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