Naeem Ishaq is leaving his role as chief financial officer of bulk e-commerce company Boxed. Ishaq joined Boxed in 2016, following a stint as head of finance, strategy and risk at Square. A Boxed spokesperson confirmed Ishaq’s departure, and sent the following statement from CEO Chieh Huang: Naeem is a world-class financial talent. Over the […]
View More CFO Naeem Ishaq is leaving BoxedCategory: boxed
Boxed reportedly rejected $400 million buyout offer from Kroger
Boxed, the site for buying food and household items in bulk, has turned down a $400 million acquisition offer from Kroger, Bloomberg reports.
Earlier this year, word on the street was that Boxed was in talks with Kroger to be acquired for about $…
This Amazon competitor is betting young shoppers will love its fancy boxes
/https%3A%2F%2Fblueprint-api-production.s3.amazonaws.com%2Fuploads%2Fcard%2Fimage%2F717468%2Faca20399-cfba-4c6e-a270-cfa8d6a29f15.jpg)
One of Amazon’s biggest advantages is being the “everything store.” Shoppers can seemingly get anything they want with a few clicks, and for Prime members, there’s free and fast shipping.
But doing “everything” is definitely not the strategy for Boxed, an online retailer that’s focused on selling household items in bulk but doesn’t offer a membership like Amazon or Costco.
In 2017, the four-year-old company generated more than $100 million in revenue, and it expects to grow its sales by 250 percent this year. Going forward, Boxed’s focus includes reaching profitability, which its working toward in part by doubling down on its private label Prince & Spring, which isn’t mass-producing everything — at least not yet. Read more…
More about Amazon, E Commerce, Online Retail, Boxed, and Tech
Boxed in talks to be acquired by Kroger for $500 million
New York-based Boxed, the startup for buying food and household items in bulk, is in talks to be acquired by Kroger for about $500 million. Other retailers are also expected to be making bids. The news was first reported by Forbes and confirmed to TechCrunch by a source with knowledge of the situation. We’re hearing that the company is aiming to make a decision this weekend. Founded… Read More
This app will help you figure out if you can fit that Costco-sized paper towel box in your apartment
You’re probably going to get a better deal when you buy consumer products — like paper towels — wholesale, but at the same time you’re also buying a very, very large package of said consumer products. So, they might not always fit in your apartment. Wholesale goods are the primary play for a startup called Boxed, a retailer looking to play the sort of… Read More
Boxed shows off the automated tech it uses to ship toilet paper and more
Boxed offers the online equivalent of the bulk shopping offered at stores like Costco. But big discounts aren’t the only thing the company’s focused on. Boxed introduced automation to its Union, New Jersey fulfillment center earlier this year, installing a system where the items for shipping are transported to the people doing the packing — without eliminating a single job. Read More