Headquartered in Boston, Wayfair is a multinational e – commerce company and is a provider of online houseware and home furnishing goods. Launched in2011, the company has raised a total of $201.3 million to date from Battery Ventures, Great Hill Partners, HarbourVest Partners and Spark capital.
The last few years has seen a tremendous influx in the worldwide base of internet users’ with the global audience poised to reach the 2 billion landmark. However, the past two years has witnessed a lot of exciting entities for the internet in general. The advent of social networking sites such as Facebook and Twitter has revolutionized the way individuals consociate and there has also been augmentation of a plethora of applications which has transformed the accustomed process of carrying out day to day tasks.
Since its onset as an online bookstore, the E-commerce industry has undergone a prodigious change and emerged as a contemporary trend in shopping. The emancipation of E-commerce industry can be attributed to the vast base of internet users along with the recent technological advances, which has provided shoppers with convenience and flexibility while providing value addition to the product. The addition of new product categories which cater to a much mature market segment and ability to choose from a wide range of products has been an impelling cause behind the success of E-commerce and that the next few years are going to be phenomenal for the E-commerce industry.