ChannelAdvisor Raises $7 Million to Fund Expansion; Leading Marketplace Management Solutions Company to Expand Product Line and Grow Operations.Business Editors/High-Tech Writers RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C. & BOSTON--(BUSINESS WIRE)--Jan. 22, 2004 ChannelAdvisor Corporation, the leading provider of marketplace management solutions, today announced that it has secured $7 million in funding from Kodiak Venture Partners, Blue Sky Ventures and eBay, while continuing the rapid addition of new Fortune 500 companies to its client roster. The capital will be used to expand ChannelAdvisor's sales and marketing efforts, fund new product development initiatives, and support the company's entrance into new markets. "ChannelAdvisor has created a revolutionary and cost effective way for small businesses to the Fortune 500 to manage product throughout the entire product lifecycle Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. ," says John Abraham, Venture Partner of Kodiak Venture Partners. "With superior technology, significant customer traction Traction Definition Traction is the use of a pulling force to treat muscle and skeleton disorders. Purpose Traction is usually applied to the arms and legs, the neck, the backbone, or the pelvis. , and a mature, highly experienced management team, ChannelAdvisor has already proven itself as a clear leader in marketplace management software and services market." This investment extends ChannelAdvisor's leadership position in providing a multiple marketplace strategy allowing Fortune 500 companies to maximize inventory yield throughout the entire product lifecycle, including: -- ChannelAdvisor Enterprise enables large manufacturers and retailers the ability to quickly open a dynamic new consumer sales channel on eBay, The World's Online Marketplace, and to offer in-season product for sale on Amazon.com's (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : AMZN AMZN Amazon.com (NASDAQ symbol) ) Merchants@ e-commerce platform. Another offering, Private Marketplace enables manufacturers, distributors and wholesalers to sell products on their own branded, private online marketplace to existing channel partners or resellers. Lastly, Catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. Syndication See syndication format. provides a solution that enables retailers and manufacturers to syndicate Syndicate organized crime unit throughout major cities of the United States. [Am. Hist.: NCE, 2018] See : Gangsterism their product catalogs to multiple portals, shopping engines and content sites empowering customers to extend their products and brands out to millions of consumers to drive revenues, increase traffic to their own e-commerce site, and convert site visitors into loyal customers. -- ChannelAdvisor Merchant is software designed to give mid-size businesses and top-tier high-volume sellers an automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. way to manage and grow sales on eBay and other online marketplaces. Merchant offers streamlined auction and marketplace management to help companies increase sales and productivity while reducing cost. This solution enables high-volume sellers to leverage the power of the software platform used by the leading Enterprise sellers on eBay like IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Harman Audio and Sears. -- ChannelAdvisor Pro, a web-based application See Web application. designed for low- to mid-volume sellers with a comprehensive set of tools that helps you organize your inventory, track your auctions and manage your sales. By automating auction-related tasks, ChannelAdvisor Pro allows you to focus on increasing your sales. "We're pleased that Kodiak has recognized that ChannelAdvisor has built a sustainable, mature business model around managing product throughout the entire lifecycle using online marketplaces," says Scot Wingo, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of ChannelAdvisor. "We view marketplace management software and services as a significant catalyst that is influencing the way retailers and manufacturers think about their online strategies." "ChannelAdvisor, one of the leading solution providers, continues to excel in helping large Fortune 500 companies sell on eBay and we are excited to participate in this round of funding," says Randy Ching For the Chinese surname Ching 程, see . For the Chinese dynasty, see . The ching (Thai: ฉิ่ง; sometimes romanized as chhing) are small bowl-shaped finger cymbals of thick and heavy bronze, with a broad rim commonly used in Cambodia and , Vice President of Platform Solutions, eBay. "ChannelAdvisor continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. develops innovative solutions and we look forward to its continued success in helping sellers grow their businesses on eBay." About Kodiak Venture Partners Kodiak Venture Partners is a Waltham, Massachusetts-based venture capital firm focused on seed and early stage investments in emerging communications/IT, semiconductor and software companies. With a focus in the eastern regions of the U.S. and Canada, Kodiak Venture Partners builds relationships with entrepreneurs seeking accelerated market success. Kodiak's investment partners are successful high-technology business entrepreneurs who take a high-impact, hands-on approach to forming, operating, building and funding market leaders. For more information, visit www.kodiakvp.com. About ChannelAdvisor Corporation ChannelAdvisor provides technology and services that enable industry-leading companies, small businesses and individuals to use online marketplaces to acquire customers and maximize inventory yield throughout the product lifecycle. Our solutions combine best practices, innovative software applications and integration technology to dramatically accelerate marketplace performance. ChannelAdvisor's clients and strategic alliances include IBM, Dell, Sears, Motorola, eBay, Yahoo! and Amazon. ChannelAdvisor Corporation is headquartered in Research Triangle Park, NC. For more information, visit http://www.channeladvisor.com/. |
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