Elevate Brands is an American startup that specializes in the purchase of consumer Amazon FBA brands to help them achieve their full potential in the marketplace. It's an innovative consumer goods company that provides a lucrative referral program instigating linkages that result in successful acquisitions. If you are not familiar with this interesting and on-the-move business, here are 20 things that you probably didn't know about Elevate brands that might be useful.
1. Elevate Brands buys FBAs
Elevate Brands is a diverse company that maintains a focus on buying consumers Amazon FBA brands. FBA is the acronym for Fulfilled By Amazon. Brands deliver goods to Amazon for storage in their warehouses and Amazon takes responsibility for ensuring that the products are stored, shipped out, and delivered to consumers. Amazon is responsible for all aspects of order fulfillment.
2. Elevate Brands is a versatile company
According to Crunchbase, Elevate Brands falls under four industry categories for its listings on the internet. It is a consumer goods company that seeks to improve the quality and reputation of brands selling consumer goods. It also falls under the category of internet, and e-commerce as this is the platform from which it operates. It is also listed under consumer as it handles a variety of brands that have the goal of providing products and services to the consumer. The scope of this business is fairly large within the e-commerce industry.
3. Elevate Brands is a young company
Elevate Brands has only been in operation for four years. This categorizes it as a young company that is still in its infancy, timewise. The business was founded under the legal name of Recom Brands in 2017. The headquarters is located in New York City, New York, USA. It is an American startup that has shown impressive growth since its inception.
4. The founders are first-time entrepreneurs
Elevate Brands was founded by James Lucient Stein and Ryan Gnesin. This is the first company that either of them has officially launched. Although neither has had previous experience in establishing and operating their own companies they have pooled their talents to create a highly successful company within the e-commerce industry that has a bright and sunny outlook for continuing its current trajectory of success. At a time when many established companies are failing, the new launch has flourished under its current leadership.
5. Elevate Brands is led by a six-member executive leadership team
The executive leadership team at Elevate Brands is still fairly small, composed of just six dynamic members. Kerry Ann Macisaac is the director of human resources. James Lucien Stein is a co-founder and chief operating officer. Anmol Ejaz is the director of recruitment. Arkady Gurevich is the chief technology officer, Andrea Lambert is the chief financial officer and Ryan Gnesin is a co-founder and chief executive officer. Together, this small but effective team has built a successful company that continues to grow and thrive, at a time when online shopping has become an essential means of obtaining goods for many under quarantine from the recent Covid-19 pandemic.
6. Elevate Brands uses 8 technologies to run its website
The Elevate Brands website uses a low number of technologies compared to most other websites. While most average a minimum of 20 up to 90 different technologies and technology products, Elevate Brands gets by with a low number. The website performs quite well using iPhone Mobile Compatible to provide mobile access, Viewport Meta, SSL by Default, and five others. We were unsure about the quality of performance, but a trip to the site provide a smooth and seamless user experience. The IT professionals know how to achieve excellent results without taxing their budget.
7. Elevate Brands has a registered trademark
Although the precise details of the intellectual property were not disclosed, we learned that Elevate Brands has secured one registered trademark. It is registered in the ropes, padding, and stuffed materials; raw fibrous textile materials class. Trademarks help businesses to maintain uniqueness that sets them apart from similar companies.
8. Elevate Brands' website is experiencing tremendous growth
We were impressed to learn that there has been a huge amount of growth in the number of monthly visits that Elevate Brands is receiving to their website. Although the numbers are still low at just 2,111 per month, this figure reflects a growth rate of 61.27 percent. It shows that there are more consumers taking interest in the company. Its global ranking isn't very high but it's still a young company and if the current monthly rate of growth continues, the figures are likely to change shortly.
9. Elevate Brands is the most popular in the United States
The statistics gathered for the Elevate Brands website over the past thirty days show that the largest group that composes the web traffic for the site is from the United States. Forty-six percent of visitors are from America. There is also a significant number of visitors from India which makes up twenty-nine percent of the web traffic. Twenty percent of visitors are from Saudi Arabia, eighteen percent are from Israel, and seven percent are from Canada. This is valuable information that can help a business to understand where the greatest amount of interest in their goods or services is coming from for making future expansion and growth plans. It appears that India would be a good place to start.
10. Elevate Brands is an early-stage venture capital-backed business
Elevate Brands has participated in three rounds of venture capital fundraising so far. The most recent round concluded on July 12, 2021. The total amount of VC funding raised is $317.5 million. This shows that investor confidence in the company is high.
11. Elevate Brands is backed by ten investors
Elevate Brands has attracted the attention and confidence often investors. These firms and individuals view the company as a minimal risk investment option and have confidence in the company's potential for generating a healthy return on the funds invested. The most recent investors to join are Sean Glass and Adam Jacobs. They are joined by Ted Zagat, Khajak Keledjian, FJ Labs, Novel TMT Ventures, Ron Suber, Rob Tarkoff, Mons Investment, and one other investor who prefers to remain anonymous. This is a considerably large group that has raised several hundred million dollars for the growth and expansion of Elevate Brands' operations.
12. Elevate Brands is advertising on LinkedIn
According to LinkedIn, Elevate Brands is using LinkedIn along with other social media venues and meeting places to advertise its services. They're actively recruiting new companies with an interest in either selling their brands or making a referral for an acquisition. The investors behind Elevate Brands have put up the capital to help the company close the deals and most close within 30 days of their initiation. Elevate Brands moves fast with a streamlined underwriting process. They usually make an offer within 24 hours of receiving a referral.
13. Elevate Brands is an Amazon aggregator
Elevate Brands prides itself in being one of the most rapidly growing Amazon aggregators in the game today. They're expanding into key international marketplaces aggressively. Their post-acquisition growth has been strong over the past year and a half, thanks to the quality leadership and staffing.
14. Elevate Brands is expanding its workforce
In preparation for its international expansion, Elevate Brands is expanding its current workforce. The company currently employs 93 workers, but we saw that there are 18 job openings on its LinkedIn website. The company is actively and aggressively recruiting for a strategic sourcing manager in Beijing, China, the same position opening in New York, New York, a System Administrator in Austin, Texas, and numerous other positions open in Tel Aviv, Israel, with the majority of the openings in New York City, which is the home of the company's headquarters. The recent influx of investor funding has made it possible for Elevate Brands to build its infrastructure and expand into other regions of the world for a stronger presence.
15. Elevate Brands buys and operates third-party businesses
According to Business Wire, Elevate Brands is expanding into a huge corporation as an aggregator. The company is growing larger with each acquisition that it makes. When consumers purchase FBA goods from Amazon, the giant takes responsibility for order fulfillment and makes a recent profit. Elevate Brands not only purchase these third-party brands, but they also operate them and make the necessary changes to maximize the potential desirability of the brand. This is a huge undertaking, but the most recent fundraising brought in a whopping $250 million that helps them have the purchasing power as well as the funding to pay for necessary upgrades to improve the goods or marketing offered by the brands.
16. Elevate Brands is popular with Fintechs
We also learned that the investors that are backing Elevate Brands are mostly individuals and firms from the global technology, fintech, and e-commerce group, comprised of business leaders, new investors, and leaders. Some impressive figures in the tech and e-commerce industry are investors. For example, the chairman of Southeast Asia's largest eCommerce platform is an investor along with co-founder of Rimeto, founder so Intermix, Quadpay, and others. Elevate Brands is backed by a powerful group of investors who also provide useful advisement because of their years of successful leadership in related areas of the industry.
17. Elevate Brands is a privately held business
You won't find shares available on the public stock market for Elevate Brands because it is a privately owned company. So far, there has been no need for the leadership to take the company public through an IPO. It is doing well with private investors and does not need to attempt to raise money by selling off shares of interest to public investors. Our research has shown no indicator for moving the business into the public sector anytime soon, so it will likely continue on the same trajectory, supported by its private group of big-ticket investors who make large investments of multiple millions.
18. Elevate Brands has tough competition
Elevate Brands isn't the only business that is out there trying to acquire third-party Amazon brands. It's a lucrative business and there are plenty of others doing the same thing, so competition is stiff for EB. One of the differences that are observable with Elevate Brands is that they're committed to making the acquisition process fast and seamless. They also improve the quality of the brand to bring it up to high standards.
19. Elevate Brands is out to create a legacy
Just four years after launching its operation, Elevate Brands has already made a solid commitment to building a legacy. The leadership is experienced and offers strong insights into this sector of the economy. The overall mission is to create legacy CPG brands that will flourish for many years in the future, and gain the respect and trust of consumers.
20. Elevate Brands is keeping mum on valuation
Our next question about Elevate Brands was about its current valuation. It appears that this is a figure that they're keeping quiet for the time being. This is common when investors have input into the kinds of information released about the financials of their investment. So far, Elevate Brands personnel are not disclosing the valuation of the business. The company does have the goal of expanding its operation quickly through key international territories by the acquisition of multiple third-party Amazon businesses, so it wouldn't surprise us to learn that it is either currently, or close to being an emerging unicorn company. This kind of news will likely prompt a news release or press conference. It's likely still a way out but we're keeping our eyes and ears open for any news on the current valuation of Elevate Brands. It's a company to keep your eye on.
Written by Allen Lee
Read more posts by Allen Lee