Online Marketplace Faire’s $ 400 Million Funding Brings Valuation to $ 12.4 Billion, Retail News, ET Retail

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Online wholesale market Faire said on Tuesday it had raised $ 400 million for a valuation of $ 12.4 billion in its third round of funding in less than two years.

San Francisco-based Faire, which helps small retailers connect with smaller brands, last raised $ 260 million in June, which valued the company at $ 7 billion.

The last round of investment was co-led by Durable Capital Partners, D1 Capital Partners and Dragoneer.

“It’s probably safe to say that we’re unlikely to increase as frequently over the next 12 months as we did over the past 12 months because we feel really well capitalized,” said Jeff Kolovson. , co-founder and COO, in a press release. maintenance.

“That said, we will likely continue to be opportunistic if that makes sense for the company and for our customers.”

Investors are particularly drawn to Faire’s wholesale business model which helps small and medium-sized businesses grow online, offering shipping, payment, e-commerce and marketing services, and enabling online sales. outside the Amazon.com Inc. market

Now have 300,000 retailers in North America and Europe, as well as 40,000 brands from more than 80 countries on its platform.

“We’re on track to earn over $ 1 billion in GMV (gross value of goods) this year,” Kolovson said.

Founded in 2017, Faire has so far raised over $ 1 billion from Baillie Gifford, Founders Fund, Khosla Ventures, Lightspeed Venture Partners, Sequoia Capital and Y Combinator.

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