January 10, 2010 ChannelAdvisor Announces Record Fourth-Quarter Volume, Record Profitability, Plans to Accelerate Hiring and Growth in 2010
ChannelAdvisor Announces Record Fourth-Quarter Volume, Record Profitability, Plans to Accelerate Hiring and Growth in 2010
ChannelAdvisor customers see Amazon sales nearly double during the holiday season
Research Triangle Park, NC – January, 20 2010 – ChannelAdvisor, a solution provider that enables online retailers to improve efficiency and increase revenue, rounded out 2009 with record-breaking holiday volume and more than 200 new customer additions including Carphone Warehouse, Deckers, Giggle, Lenovo, Newport News,Onlinegolf, Spiegel, and True Religion. ChannelAdvisor plans to hire more than 60 people in 2010 to meet growing demand for its products as e-commerce continues to expand globally.
“For ChannelAdvisor, 2009 was a fantastic and transformative year as we achieved our profitability goal of becoming EBITDA positive,” said Scot Wingo, ChannelAdvisor CEO. “We’re the most efficient we’ve ever been and have set the stage for solid, profitable growth in 2010 as we continue to meet rising demand for our services.”
The 2009 holiday season marked the fourth consecutive year that ChannelAdvisor broke its Cyber Monday gross merchandise value (GMV) record, with more than $800 million in transaction volume during the quarter. ChannelAdvisor’s GMV for Black Friday, November 27, 2009, increased to $17 million, and for Cyber Monday, occurring November 30, 2009, ChannelAdvisor’s GMV totaled $18.5 million. Further, a Black Friday and Cyber Monday comparison of same-store-sales showed an increase of more than 70 percent for ChannelAdvisor customers on Amazon, and an increase of more than 7 percent for customers on eBay.
One particular example of holiday success came from Gem Stone King, an online retailer of diamonds and jewelry based in New York City, New York.
“In December of 2009 we sold 20,000 items–a company record–on eBay through ChannelAdvisor,” said Nir Hollander, president of Gem Stone King. “Thanks to eBay’s Diamond Ring Designer, eBay’s Daily Deal program and ChannelAdvisor, we were able to sell $230,000 in one day on December 8, 2009. Without ChannelAdvisor, we could not have processed that volume of transactions and continued to provide the level of service our customers have come to expect.”
ChannelAdvisor’s strategy for 2010 is to continue to reinvest in the company, focus on building great products and scale successfully to respond to the continuing expansion of e-commerce on a global scale.