Inturn Competitive Landscape

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Inturn Overview

Inturn is the first global marketplace that enables brands and retailers to buy and sell excess inventory efficiently. Inturn provides retailers robust technology solutions aimed to increase profitability and ease the error-prone process of inventory management. All the requested details have been provided in rows 3-40 in column C of the attached spreadsheet.

Summary of Findings

  • Inturn was founded in 2013 in New York, United States. Its only product is its business-to-business software solution focused on providing excess inventory management services to brands and retailers.
  • Inturn has received a total of $39.7 million funding amount to date.
  • The software solution enables its users to utilize a large dataset consolidated with complex inventory files that provide business teams full visibility into the status of their inventory in real-time.
  • It is focused on large, enterprise brands having more than $5 million in annual sales of excess inventory. Current clients include Under Armour, Hanes Brands Inc, Unilever, Theory, and LEVI'S.
  • Inturn raised $22.5 million in Series B funding led by B Capital Group to promote their inventory to brands and retailers.
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Inturn Competitors

Six emerging technology competitors to Inturn are Tiger Trade, Optoro, BloomNation, BoxFox, B-Stock, and Nextail. All the requested details have been provided in rows 1-3 in columns D-I of the attached spreadsheet.

Tiger Trade

  • Tiger Trade is an online business-to-business marketplace that allows the buying and selling of excess inventory. It uses a unique technology platform that offers real-time bidding and fulfillment services and end-to-end service to businesses worldwide.
  • Tiger Trade one of the top competitors of Inturn and is actively using emerging technologies, including Google Analytics and others.

Optoro

  • Optoro being one of the top competitors of Inturn, offers a robust technology solution that helps brands and retailers process and manage excess inventory. Its solution also incorporates several emerging technologies, including machine learning.

BloomNation

  • Listed among the top competitors of Inturn by Craft, BloomNation is the largest marketplace for fresh artisan flowers. It offers an innovative and new revenue growth technology solution that enables florists to boost their revenue.

BoxFox

B-Stock

Nextail

  • Nextail utilizes emerging technologies including, artificial intelligence and prescriptive analytics, to optimize and advance retailers’ inventory management processes.

Research Strategy

We commenced our research by first reviewing credible private companies' databases, including Zoominfo, Craft, and others. Through this research, we were able to gather several competitors to Inturn. We then profoundly reviewed each of the found competitors and leveraged data through their website, associated news articles, and others, and finally sorted out six such competitors that are actively using emerging technologies or new technologies.
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Inturn CL (1)

TigerTrade is the largest online wholesale marketplace for trading excess retail inventory, such as apparel, textile, fashion accessories, toys, home furnishings, and others. The requested information regarding Tiger Trade is set out in column D of the attached spreadsheet.

Summary of Findings

  • Tanjila Islam founded Tiger Trade in New York in January 2010. The company offers 27 million overstock merchandise units from vendors of more than 100 countries.
  • In 2017, the company launched a first-of-its-kind B2B platform designed to improve the manufacturers' speed and efficiencies to sell their excess inventory.
  • TigerTrade offers a membership-based technology platform for trading apparels using a proprietary matching algorithm. The AI-powered marketplace provides real-time bidding and fulfillment services for brands, manufacturers, off-price retailers, and wholesalers.
  • TigerTrade enables buyers and sellers of quality fashion merchandise to transact safely, efficiently, and with full transparency. The company facilitates end-to-end sourcing for vendors, including product inspection, rate negotiation, warehousing, and legal walkthrough.
  • The company has raised funding from IBM blockchain accelerator to develop a blockchain-enabled platform for vendor verification, payment authorization, merchandise authentication, and shipment tracking.
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Inturn CL (2)

Optoro was founded by Adam Vitarello and Tobin Moore, in 2010. The required information is provided in column E, rows 3-42 of the attached spreadsheet.

Selected Findings

  • In 2016, Optoro partnered with Measurabl, a startup provider of sustainability data management and analytics software.
  • The company appointed Jim Kelly as EVP, business development and client success, in 2017.
  • In 2019, Optoro announced its partnership with IKEA and the appointment of three senior executives to its team in Washington, DC. Katy McCarthy was appointed as the chief financial officer, Peter Spellman as the chief technology officer, and Pankaj Kulkarni as senior vice president of product.
  • Optoro has raised total funding of $244.4 million.
  • The company's current clients are Staple, Best Buy, IKEA, Jet, Groupon, Under Armour, Bed Bath & Beyond, BJs, Bluestem, and Purchasing Power.
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Inturn CL (3)

The company that came into existence as a result of a hand of poker, BloomNation has been a major disruptor in the flower industry. The requested information regarding BloomNation is set out in column F of the attached spreadsheet.

BloomNation's Points of Interest

  • BloomNation was founded in 2011. David Daneshgar, one of the three co-founders, won the money needed to start the company in a 2011 poker tournament in Los Angeles. The $30,000 he won was enough to develop BloomNation's web portal and get the company online.
  • Last year the company had an annual revenue of $65 million.
  • One of the co-founders, and current CEO, has said, "If you think about it, three things are required to be successful: knowing the floral industry really well, knowing the e-commerce industry really well and knowing technology very well. We had none of the three."
  • BloomNation is in the unique position, in that, it has access to a real-time record of America's spending patterns on flowers, which is very powerful information. When discussing "mining the information, Shoraka said, "I can tell a florist in San Francisco what’s trending in New York, can tell a florist where are the price points that are selling best in their catalog. We get to see what’s happening on a national scale but also on a hyperlocal level."

Research

Despite reviewing pre-compiled information on the BloomNation website, press releases and media articles, the complete C-Suite could not be found. The nature of the operation that BloomNation has developed meant that several of the requested product details were not applicable to this product. We have marked those categories N/A. We were unable to locate any information relating to BloomNation's technology, despite extensively reviewing the aforementioned sources.
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Inturn CL (4)

BoxFox is a business-to-business marketplace that offers retailers a new technology solution enabling them to sell, buy, and valuate overstock merchandise. The company was founded in 2013 by Chris Palmer after he observed that a friend in the sporting goods retail sector was losing as much as $50,000 every year due to overstocking. Additional insights on the company have been provided in column G of the attached spreadsheet.

Overview of Findings

  • BoxFox's only product is its marketplace through which it facilitates the auction of overstocked goods from retailers. Sellers can decide to accept the highest bid or decline if the highest price does not match the seller's valuation.
  • The company has only raised $1.1 million in three funding rounds according to Crunchbase.
  • BoxFox's clients include "independent retailers, franchises, e-tailers, wholesalers, and manufacturers" across multiple categories, including "electronics, toys, apparel, footwear, housewares, and much more." Some of the brands that have had an auction on BoxFox include Brooks, Hoka, ASICS, and Mizuno.
  • While signing up and uploading products to the platform is free, BoxFox charges 7% of all transactions, while the buyer also pays for shipping.
  • Sellers can upload their goods manually through the web interface, or use the iOS app to upload the products using the products' barcode. Once the products are updates, BoxFox's appraisal algorithm, which leverages "over 80 million products listed in the platform’s internal catalog," provides a fair market value for each product.



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Inturn CL (5)

The requested information about B-Stock Solutions, Inc. has been entered in column H of the attached spreadsheet, and main findings have been provided below:

Overview

  • B-Stock Solutions, Inc. is the world's leading liquidation platform that helps companies reduce costs linked to the liquidation of excess inventory and boost revenue through its emerging technology platform. One of the largest networks of B2B liquidation marketplaces, B-stock liquidates returned merchandise for retailers like Amazon, Walmart, Home Depot, Macy's, Target, Costco, or Best Buy.

History

  • B-Stock was founded in 2008 by Bill Cornell and Howard Rosenberg, two eBay veterans who had "built the private marketplace business for brand name companies like Sam's Club, HP, Motorola, and Dell." Bill Cornell started as a support engineer with IDX, he was involved with Windows development, and then developed one of the first healthcare web apps.
  • Howard Rosenberg was the General Manager of eBay's enterprise B2B business. His experience "includes launching dozens of marketplaces for a wide variety of customers and working with hundreds of companies selling through eBay's B2B Reseller Marketplace." Knowing that eBay's top sellers encountered difficulties in finding reliable access to new inventory, Howard pitched the idea for an innovative marketplace that served large retailers. By putting all the burdens back on the original sellers, there were no inventory risk, no pricing decisions to be made, and no shipping costs for B-Stock.
  • In June 2018, B-Stock announced that it had received a $65 million investment from Spectrum Equity, a leading growth equity firm. This reinforced B-Stock's 10-year history of growth and its status as the leader in the online liquidation space.

Products

  • B-Stock Solutions, Inc. offers liquidation sales management solutions for companies. With a private, customized marketplace for each seller, their platforms can accommodate a high volume of merchandise, promote sellers' auctions to a global buyer base, and tailor their marketing campaigns to a targeted buyer group.
  • The company offers exposure across the B-Stock Sourcing Network with access to 570,000 buyers, ranging from family-owned discount stores to independent eBay sellers. B-Stock also offers expert liquidation and auction strategy guidance and real-time reporting and analytics on secondary market pricing and demand characteristics.

Funding

  • The company has raised a total of $73.2 million over three funding rounds. Hence, in February 2009, B-Stock secured $1.2 million in Series A venture capital funding led by True Ventures. Later on, in August 2014, it raised $7 million in a growth funding round led by Susquehanna Growth Equity. Their latest funding was in June 2018, a $65 million investment from Spectrum Equity.

Claims

  • B-Stock claims that its "marketplace platform sets up an online auction dynamic where [buyers] can sell returned, excess, or other liquidation inventory directly to a diverse base of approved business buyers." Their approach drives greater demand, higher pricing, and a faster sales cycle for clients' overstock inventory, working broadly across all industries, including appliances, apparel, and mobile.
  • By applying their auction strategy, "nine of the top 10 U.S. retailers, along with hundreds of other businesses — large to small — are attaining the highest pricing possible for secondary-market merchandise across all categories, conditions, and quantities." The company offers solutions both for Fortune 1000 retailers, manufacturers, or distributors, and small businesses.

Clients

  • B-Stock's clients range from Fortune 1000 retailers, manufacturers, or distributors to small or medium businesses. Some of the most prominent retailers that work with B-Stock are Amazon, Best Buy, Game Stop, GE Appliances, Lowe's Liquidation, Macy's, Office Depot, Liquidation Auctions, Walmart, Whirlpool, Sears, and JCPenney.

Pricing

  • B-Stock does not publish the details of its pricing regarding its seller customers. According to Forbes.com, "sellers pay an estimated 5% to 10% transaction fee based on the amount of merchandise they move through some 175,000 auctions every year."
  • There is no cost for applying to B-Stock Supply. All auctions must be paid in U.S. Dollars, by wire transfer, within two business days of an auction's close. Wire payment is the only form of payment accepted, but if the auction's total is $300 or less, the client can make the payment by PayPal.

Product Info

  • B-Stock Solutions is the leading provider of Liquidation Sales Management solutions to retailers and manufacturers. The company helps minimize its clients' negative financial impact by providing a secure and web-based auction platform.
  • Their products include expert liquidation, auction strategy guidance, real-time reporting, analytics on secondary market pricing, and demand characteristics. Nonetheless, as a client, you get exposure across the B-Stock Sourcing Network, a network of branded liquidation marketplaces and qualified business buyers.
  • With over 65 marketplaces, the company works across a high diversity of industries, including appliances, apparel, automotive supplies, consumer electronics, furniture, grocery, health and beauty, home and garden, jewelry and watches, office supplies, or industrial equipment and building.
  • B-Stock Solutions uses 76 technology products and services. These include Viewport Meta, IPhone/Mobile Compatible, and Sender Policy Framework (SPF).


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Part
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Inturn CL (6)

Nextail is a smart platform for retail merchandising that anticipates localized demand with artificial intelligence. All the requested details have been provided in rows 3-40 in columns I of the attached spreadsheet.

Selected Findings:


Sources
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