Friday Jan 31, 2014 by Dennis Keohane - Senior Writer, VentureFizz
This morning, Wayfair, the largest online retailer of home furnishings and one of Boston's biggest e-commerce companies, reported its growth and numbers for 2013.
The company earned a whopping $915 million in revenue last year, an annual revenue growth rate of 55%.
Wayfair also announced that their order intake exceeded $1 billion.
As CEO Niraj Shah said in the announcement, “We were expecting impressive sales growth in 2013 and are pleased to see our model is working to drive increased brand awareness, customer acquisition and retention.”
“We are focused on delivering an exceptional shopping experience specifically geared to home goods and will continue to address the unique requirements of this market category with innovation across all aspects of our business,” he added.
Over the past year, Wayfair launched several new products, including its "Inspiration Gallery," and added several new team members including CFO Michael Fleisher and Executive Creative Director Christiane Lemieux. The company is expected to add a few more key players very soon.
As Fleisher said, “When I arrived at Wayfair three months ago, I knew I was joining an amazing team leading an incredible growth engine. Our full year results and 55% growth rate prove that point and the sheer scale of our business sets it apart as a true leader in the emerging class of e-commerce winners.”
With the IPO's of Care.com and e-commerce company Zulilly going successfully lately, many expect Wayfair to be the next big Boston tech IPO.
Some of the signs pointing to this are the ever-present and growing murmurs of new team members, rampant rumors on what the company is planning next (including flexing some e-commerce muscle in the office furniture vertical), and a growing presence at tech-centered events (co-founder Steve Conine was at a recent Wayfair-sponsored talk given by Dropbox's Drew Houston at MIT and gave a hiring pitch at the conclusion of the event).
One thing is for sure, looking at its success and growth in 2013, the company is eager to continue its upward rise in 2014.