BOSTON, July 13, 2021 /PRNewswire/ -- Perch, a technology-driven commerce company that acquires and operates top Amazon third-party and other D2C brands at scale, today announced the acquisition of Web Deals Direct LLC. Since its founding in 2019, Perch has raised more than $900 million from investors such as SoftBank, Spark Capital, and Victory Park, and it has acquired over 70 brands. GulfStar Group served as the exclusive financial advisor to Web Deals Direct throughout the transaction.
Web Deals Direct is among the largest global FBA sellers on Amazon with over $80M in revenue last year. The company has an owned-brand portfolio spanning several everyday use categories, including Home & Kitchen, Patio & Garden, Sports & Outdoors, Arts & Crafts, Pet Supplies and Office Products. Extraordinary execution in high volume product identification, compelling branding, obsessive customer service and dynamic selling platform management, have afforded Web Deals Direct a massive base of over 110,000 reviews and 2.3M customers served to date.
"We took our business from zero to $80 million in sales in 5 short years," said Adam Feinberg, CEO of Web Deals Direct. "But, with Perch, who are proven eCommerce operators, we think the possibilities of growth in the next 5 years are just as exciting. I've been so impressed with the caliber of their team, and I trust their long-term vision to steward our business into the next phase of growth. This was a complex deal, but Perch has made the process fair and transparent. I want to thank all of the great Web Deals Direct team members for the organization we've built together; our employees could not be in better hands with Perch."
As part of the deal, Perch has also acquired a 230,000 square foot warehouse based in Corona, California, and it is currently evaluating multiple warehouses on the East coast for a larger push into asset-based and fulfillment operations. Perch now has the capability to acquire and integrate increasingly large and complex eCommerce operations, and the deal highlights the company's unique background in eCommerce operations.
"This deal marks a major milestone for Perch," said Perch Founder and CEO, Chris Bell. "The complexity and size of the business is a testament to the excellent organization Adam and the entire team at Web Deals Direct have built, and it is a pleasure to work with such inspirational entrepreneurs. Integrations of this scale are a massive task - I couldn't be more proud of our team that has managed it seamlessly, and I am excited to welcome our new Perch employees that came over from Web Deals Direct who are joining our quest to redefine consumer products. As we scale, continuing to build out our asset-based warehousing and fulfillment operations will be critical to our success; it's something our team knows well from our time at Wayfair."
Perch's CEO and COO designed and built the Wayfair Delivery Network, which delivers over 3 million heavy bulky orders annually, and they reduced the delivery time for large parcels such as couches from around 1 month down to 2 days. The team at Perch is building on this expertise and its growing scale to reduce the impact of spiking freight prices, manage inventory limits, and maximize the growth of its portfolio of brands.
Perch is a technology-driven commerce company that acquires and operates Amazon third-party and other D2C brands at scale. Perch seeks high-quality products and brands that have a steady history of strong customer reviews, are consistently one of the top three products within their category, and have the potential for expansion. Perch quickly evaluates opportunities, guaranteeing entrepreneurs a 48-hour response on their businesses' fit with its model and valuation range, providing a fast and risk-free way to understand their company's potential. For more information, please visit: www.PerchHQ.com