I’m at the Internet Retailer Conference (IRCE 2012) this week in Chicago, and the buzz around the event is infectious. I’ve already met with several top retailers, e-tailers and industry influencers who are here to discuss the latest trends around 21st Century retailing, and learn more about innovative technologies and new business models that are turning the shopping experience on its head.
This morning I moderated an E-Retailing Profitability Workshop with Cotter Cunningham, founder and CEO NVP portfolio company, WhaleShark Media (RetailMeNot), called, “Striking The Right Deal When You Go for Funding.”
We had a colorful discussion about e-retailers looking to expand their businesses, and how they are turning to outside investors for capital. Cotter walked through how WhaleShark Media raised $150 million last November in a down market, and the path the company has taken to profitability. We also addressed how business owners seeking to raise capital must have their eyes wide open, and we examined issues related to finding outside funding and how to chart a path that will lead both sides to profitability and contentment. Best practices around ensuring businesses get what they need on terms they can live with, and what to do with the money once they’ve obtained it, were also topics of interest.
Below is a story written by Thad Rueter of Internet Retailer, called “IRCE 2012 Report: How to snag venture capital cash,” which includes key highlights from our workshop this morning. You can also view slides from our session here. (Click “More” and then “Fullscreen” to better view the slides, use the arrow keys to step through it).
June 5, 2012, 11:38 AM
IRCE 2012 Report: How to snag venture capital cash
Venture capitalists are looking to finance retailers that have figured out how to shake up the e-commerce market.Thad Rueter Senior Editor
Venture capitalist Josh Goldman and e-commerce executive Cotter Cunningham discuss who retailers can garner venture funding at IRCE.
Online retailers hoping to be handed a bagful of cash from a venture capitalist need to figure out how they might shake up the e-commerce market and also plan to hire attorneys with expertise in funding.