How Heyday Works and Ongoing Success
Ecommerce startup Heyday looks through the many different Amazon-based business owners that sell products exclusively on the website and reaches out. From there, the company partners and invests with the ones with strong business potential, investing in the product, pooling resources from other acquired brands, and launching an improved brand. The added resources and tools from Heyday can help the business owner bring in significantly higher revenue and increased overall profits by partnering with the ecommerce startup.
Heyday is not the only ecommerce startup that acquires other brands and invests in them for future profit. However, the company does believe that it conducts business differently than the rest of them. Instead, Heyday focuses more on helping small business owners achieve their long-term vision for their company by working with the startup.
Through the tools for data analysis developed by the startup alongside financial support, Heyday has helped launch several brands already. The success of the business thus far has led to expectations of surpassing $200 million of annualized revenue by the end of the year. Currently, the ecommerce company already has over 100 employees and has crossed $100 million in revenue.
Heyday Funding and Future Plans
In the Series B funding round for the company, Heyday raised $70 million in capital. The funding round for the ecommerce startup was led by General Catalyst with participation from Khosla Ventures, Arbor Ventures, and several entrepreneur partners. The newest infusion of $70 million brings the total funding for Heyday to more than $250 million, with a Series A round valuation worth a whopping $175 million.
The funding will be used to acquire, incubate, or partner with more brands and business owners on Amazon’s digital marketplace. Heyday plans on heavily accelerating the speed of its own growth through this funding to reach its revenue goals.
When commenting on the ecommerce startup, Heyday board of directors member Tina Sharkey said, “With real estate, it is about location, location, location, and it also is with brands that were born to be digital. This is where people are shopping. On the surface, Heyday is building remarkable brands that consumers love, but below the water is all of the back-end technology, stack, data, operations and logistics. All of these brands will be omnichannel, and consumers will be able to discover them all because of the relationships brands will make with customers in ways they weren’t in before.”
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.