A San Francisco-based company called Heyday has raised $175 million from General Catalyst, Khosla Ventures and other investors to buy, launch and grow Amazon businesses.
Heyday, which was founded in August, came out of stealth on Monday to announce that it has raised a massive Series A funding round. Arbor Ventures and executives from Amazon, eBay, PayPal and Magento also participated in the round.
It’s the latest company rushing to bet on Amazon’s third-party sellers, which now generate roughly 60% of the e-commerce giant’s product sales, up from 3% in 1999 and 30% in 2008. While these sellers from the backbone of the nation’s largest online marketplace, most of them remain small. Deep-pocketed investors have spotted an opportunity to roll up dozens or hundreds of Amazon-native brands, pool resources and invest behind them to goose sales and profits. The largest acquirer of Amazon third-party sellers is Thrasio, which has raised over $500 million and was valued at $1 billion in July. Other companies, like Perch and Boosted Commerce, have also announced significant funding in recent months to pursue Amazon roll-ups.
Source: Forbes
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