Nomorerack began in 2010 as a flash-sales site and has evolved into an online retailer that offers deep discounts across jewelry, apparel, electronics, home and lifestyle categories. The site typically lists more than 3,000 deals at any given time, curated by a 16-person buying team, with product lifetimes determined by a backend algorithm that weighs revenue and sales volume. Nomorerack sources inventory directly from manufacturers to disrupt traditional retail pricing chains. The company is profitable and reports strong growth: $9 million in revenue in 2011, north of $100 million in 2012, and is on track for close to $300 million this year. It sees roughly 5 million monthly unique visitors and about 70% of sales are repeat purchases. Future plans include using capital to build depth in top categories (jewelry, apparel, home) and further customer acquisition. NoMoreRack operates a flash-deals e-commerce site focused on everyday products sold at an average of 70–80% off and aims to become an online shopping destination. The site highlights about nine big deals each day alongside hundreds of other products; most sales run 24 hours while some "events" last three to four days. The company reports roughly 7 million monthly visitors, 5.8 million subscribers, an average of 40K items sold per day, and revenue close to $80 million (it recorded $46M in revenue during the first two quarters). With new funding the founders plan to add to a staff of 30 and scale operations, particularly abroad, and the company recently relocated to New York. NoMoreRack has faced customer complaints (canceled orders, damaged goods and quality issues) and is attempting to repair its reputation by offering full refunds and a 30-day return window. The company is also contending with a trademark dispute with Nordstrom.

Total raised

$52M

Funding rounds

2

Latest round

Series B

Latest activity

Oct 2013