Wayfair.com Raises $36 Million to Grow Joss & Main
Home & Textiles Today Staff -- Home Textiles Today, December 26, 2012
Wayfair.com announced it has secured $36.3 million in new equity financing to fuel the growth of Joss & Main, the company's private sale site for the home. Investors include Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark Capital. Joss & Main has acquired nearly three million members and is operating at a $100 million annual revenue run-rate to become the fastest growing flash sale site for home goods and furnishings, according to a company press release.
"Joss & Main has gained tremendous traction over a very short period of time through its unique approach to curated e-commerce," said Niraj Shah, CEO and co-founder of Wayfair.com. "The site hit its highest sales day on Cyber Monday by a factor of over 50% and sales are up 10-fold since last year."
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