Let’s Get Growing – That’s the mission behind Albany-based CommerceHub, a tech company that connects retailers to suppliers to ship online orders directly to customers.
Last week publicly-traded CommerceHub made headlines by announcing an acquisition by private equity firms GTCR and Sycamore Partners in a $1.1 billion deal to take the company private. This is the latest chapter in an evolving success story that began in 1997 when Frank Poore, CommerceHub’s founder and CEO, came up with the idea for the business while working with a local video game distribution company.
With only $1200 in his pocket, Poore envisioned a hub where any retailer would be able to communicate and coordinate with any supplier through one centralized platform. Today, CommerceHub helps more than 11,000 retailers, brands and distributors achieve an estimated $16 billion in Gross Merchandise Value. CommerceHub clients include Walmart, Macy’s, BJ’s and QVC.
In 2017, CommerceHub received Upstate Venture Connect’s Deal of the Year award for becoming a publicly traded company (NASDAQ : CHUBA). “This exit and new acquisition have created wealth, not only for investors and CommerceHub employees, but has made the company a strong contributor to Upstate’s economy,” said Upstate Venture Connect founder Martin Babinec. Currently, CommerceHub has 24 career opportunities available in Albany, NY, ranging from engineering internships to key executive positions.
From childhood ambitions to growing a billion dollar company, here’s 5 Questions with Frank Poore.