E-commerce company B-Stock gets $65 million private equity investment
B2B marketplace B-Stock which provides online marketplace solutions for overstock and excess inventory liquidation for various retail companies has now raised a huge round of $65 million from Spectrum Equity to expand its services and enterprise solutions.
This marks a very huge investment for the company which was started 2008 by top former eBay manager Howard Rosenberg and Bill Cornell who also had stints at eBay, PayPal and various notable technology companies.
The Redwood based company has since been profitable from its start and with this investment is earmarked to expand its services to a long list of clients which currently include online furniture company Wayfair, major game retailer GameStop, JCPenney, BestBuy, Groupon, Amazon Home Depot, Walmart and other major retailers which offers online marketplaces for excess inventory on its platform.
Concerning this investment, Spectrum Equity’s head Pete Jensen who is joining B-Stock’s board along with another Spectrum member issued a statement saying “B-Stock is the clear leader in the online liquidation space having delivered massive value to a long list of global, blue-chip customers.” He continued the “team are enabling their retail clients to achieve higher recovery, better data and insights, more efficient processes, and a more liquid marketplace.”
This investment brings the total raised by B-Stock Solutions to a huge $73.2 million of which this investment makes up the majority raised by the liquidation sales management company.