To know about the Wayfair company, like who owns Wayfair company and other details, it’s important to have a good understanding about this company. So, this Wayfair is an American online company that sells goods and furniture for the home us.
Moreover, people knew this company as CSN stores before. The company was established back in 2002. Currently, this online platform delivers 14 million products from more than 11k international supplies.
So, if you want to know more about this company, then you are at the right place. In this article, we will talk about the Wayfair company and who owns Wayfair company. So, now’s the time to go through this article and know everything about it.
A General Overview On Wayfair Company
So, as we just mentioned, just company is an American online company that sells furniture and goods to people. Moreover, Wayfair doesn’t manufacture, build or stock anything. In other words, it doesn’t ‘produce’ the product but works as a middle man between the dealer and the customer. S
o, when you purchase something from their website, they purchase that item on your behalf from the supplier, and then that supplier sends it to you. This is an instance of drop shipping and Wayfair then charges the payment to those dealers.
We can say that it’s a pretty popular and big company. In fact, it is the largest only retailer in the US. Currently, they run five big-name retail sites like Wayfair.com, Joss & Main, Perigold, Allmodern, Birch Line.
Owner Of The Company (◕‿◕)
So, do you want to know who owns Wayfair company? Actually, Niraj Shah and Steve Conine, the two entrepreneurs established this company back in 2002, in August. Therefore, this is a two-person company. Moreover, it’s worth noting that the founders Shah and Conine, both hold a degree, Bachelor of Science. They received their degree from Cornell University. Moreover, both of them also had run two other companies before. Those are Simplify Mobile and iXL. So, after running those companies they built Wayfair.
Therefore, if someone asks who owns Wayfair company, the answer is Niraj Shah and Steve Conine. Moreover, it’s worth noting that since 2018, Dec, Niraj is the CEO of this firm. In addition, both of them share the chairman position in the company as well.
The History Of The Company
Now that we know who owns Wayfair company, it’s time to know the history. So, the initial name of the company was CSN Stories. Moreover, this company was started with the initial website Racksandstands.com, So, they sold media stands as well as warehouse furniture during that time.
Thereafter, in 2003, this company included patio and garden, good suppliers. Moreover, they also included three online stores and also a few workers. In addition, they also relocated their HD into an office in Boston’s Newbury Street.
Over the next two years, they improved a lot. In other words, they included institutional, office, and kitchen decor, home decor, and all types of furniture and materials. Within three years, they gained around 100 million USD in sales. Thereafter, in the next four years, Wayfair company spread in the US and the international markets.
According to the reports, in 2008, the company CSN stores started to export to Canada. Next, in 2011, they owned over 200 online ships. Moreover, in the month of June, the company gained 165 million US dollars in funding from a few investment firms. Those investment firms were Battery Ventures, Great Hill Partners, Spark Capital, and HarbourVest Partners.