Today, September 3rd, marks our one-year anniversary since we rebranded as Kaspien. It’s been an incredible first year, and we’d like to take a moment to celebrate some of our biggest achievements in the last 12 months!
Launched a New Website
With our new name came a new website – which you’re on! Our website is a constant work in progress, always striving to improve the frontend and backend. These efforts have yielded great success, with our total and daily impressions more than tripling year-over-year!
Named One of the Best Places to Work
On October 8th, 2020, Kaspien was named as one of the Best Places to Work Inland Northwest. This was our third time receiving the honor, and we’re committed to earning it again and again!
Passed $1 Billion in Retail Sales
In January 2021, we passed a major milestone, marking over $1 billion in retail sales.
“One billion in lifetime revenue represents a significant milestone in the history of our company,” said Brock Kowalchuk, Chief Financial Officer at Kaspien Inc. “It symbolizes our ability to endure as one of the original third-party retailers in the marketplace industry. Not only have we persevered as the industry continues to evolve, but we’ve also built a scalable business that is meeting a real need for brands looking to optimize and grow on online marketplaces.”
Unveiled Our New Mission Statement
In February, we signaled the launch of our most aggressive growth phase to date by unveiling our new mission statement:
“To optimize and grow brands on today’s leading online marketplaces.”
As our CEO, Kunal Chopra, summarized, “Our new mission gets to the heart of our purpose.” As we celebrate our rebrand anniversary, we’re proud of our delivery on this mission.
Expanded Our Target Plus Onboarding Program
On March 3rd, we expanded our Target Plus program, opening the door for eligible brands to sell on Target’s online marketplace.
We were invited to the selective program in early 2020, and we worked closely with Target to test the waters. The early results were promising, with Q4 2020 sales outpacing Walmart sales by 9x!
Added Day Parting to Amazon Ad Management Software
On March 16th, we announced day parting in our Amazon PPC software, AdManager. Day parting allows advertisers to schedule their ads to run only during the days and times with the highest return on investment, thereby maximizing the efficacy of their ad spend. Kaspien AdManager is one of the few Amazon ad software applications capable of day parting.
Raised $13.5 Million
We’re not done with March yet! On March 18th, we announced that we had raised $13.5 million in equity funding from the public markets. We invested this funding in expanding our supply chain capabilities, optimizing our tech platform, and launching a new division: brand acquisitions.
Established a Brand Acquisitions Division
Nearly all brand acquirers today lack experience running Amazon businesses. They are investors first, ecommerce experts second.
We’ve worked with over 4,000 brands since 2008 and generated over $1 billion in retail sales. Through our brand acquisitions arm, we provide owners a lucrative exit and a lasting legacy, integrating their brand into our ecosystem of ecommerce software and services to rapidly accelerate growth.
Joined the Russel Microcap Index
In June, we joined the Russell Microcap Index. Our CEO, Kunal Chopra explained the significance of the news:
“Our inclusion into the Russell Microcap Index represents an important milestone and meaningful achievement in our development as a public company. The Russell Indexes are a well-respected and influential benchmarking standard. We appreciate being a part of this select group and expect our inclusion to bring added visibility within the broader investment community as we continue to build our reputation as a leading provider within the online marketplace ecosystem.”
Won a Marketing Automation Innovation Award
In August, we were the proud winners of a 2021 MarTech Breakthrough Award in the Marketing Automation Innovation category. Our software, AdManager, won in a particularly competitive year, with this year’s program attracting more than 2,850 nominations from over 17 countries.
Posted Strong Growth 4 Quarters in a Row
Over our first 12 months as Kaspien, we reported financial results for four quarters. In each of them, we posted double digit revenue growth!
Expanded Our Merchant Fulfilled Network to Support Partners
Throughout the year, we also continued developing and diversifying our supply chain. We expanded our merchant fulfilled network, providing alternative and supplementary fulfillment solutions for brands hindered by FBA’s repeated inventory restrictions in the wake of the pandemic.
With our dropship program, processing facilities, third-party logistics partnerships, Amazon Global Logistics (AGL), and more, we’ve enabled our partners to continue capturing sales despite the turbulence. As we prepare for Q4, these resources will prove invaluable for our partners’ ability to meet demand.
Onwards and Upwards
Despite an incredibly challenging landscape, our first year as Kaspien has been marked with major accomplishments. To all our brands, thank you for your support and partnership! We couldn’t be here without you.
Here’s to year two!