Niraj Shah
Melissa Campanelli is Editor-in-Chief of Total Retail. She is an industry veteran, having covered all aspects of retail, tech, digital, e-commerce, and marketing over the past 20 years. Melissa is also the co-founder of the Women in Retail Leadership Circle.
Online home furnishings retailer Wayfair has filed for a $350 million public offering of stock. The Boston-based company, which said its revenues were up 52 percent last year and almost 50 percent in the first half of this year, was founded in 2002 by Niraj Shah and Jeff Conine. They still each own 29 percent of the company, according to Wayfair's IPO filing with the SEC. Other owners include Great Hill Partners with an 11.4 percent stake, Battery Ventures with 6.2 percent and HarbourVest Partners with 7 percent. Wayfair's brands include Wayfair.com, Birch Lane, DwellStudio, AllModern.com, and Joss & Main.
Niraj Shah, CEO of Wayfair (formerly CSN Stores), the Boston-based online seller of home furnishings, with 1,250 employees, a global presence, 2012 revenue of $600 million and a 40 percent growth rate, offered his four drivers of long-term retail success during a session at the 2013 Internet Retailer Conference & Exhibition in Chicago last week. They include the following:
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