Poshmark Chief Monetary Officer, Anan Kashyap, Joins Board of Administrators
Former BofA Securities Funding Banker, Daniel Weisenfeld, Takes Chief Monetary Officer Place
Snapcommerce, the cellular commerce platform that matches price-conscious customers with the most effective promotions, introduced as we speak the appointments of Poshmark CFO Anan Kashyap to its board of administrators and former BofA Securities funding banker Daniel Weisenfeld as its chief monetary officer. Kashyap and Weisenfeld be part of Snapcommerce on the heels of an $85M progress spherical and on observe for over 100% annual progress in cellular gross sales in 2021, bringing company finance technique and transactional experience to additional strengthen Snapcommerce’s high-growth trajectory.
Kashyap holds a seasoned observe file in getting ready e-commerce corporations for IPO, most not too long ago with Poshmark along with earlier monetary roles at GrubHub and Kayak. Weisenfeld has important worldwide transaction experience, having executed transactions for corporations equivalent to V.F Company, Supreme and Greenback Tree, and has led over half a dozen IPOs and suggested on greater than $50 billion in mergers and acquisitions.
“In my years constructing companies in e-commerce, one of many best challenges is that there’s a lot selection, that it’s onerous to floor high quality. What’s thrilling about Snapcommerce, is that the corporate is uniquely positioned to floor high quality items and providers at a good value—significantly with mobile-first millennials who’re value acutely aware,” mentioned Kashyap. “If there’s anybody that’s going to make cellular commerce simpler, extra reasonably priced and extra accessible to the on a regular basis shopper—that is the corporate and crew to guess on.”
Snapcommerce is a versatile, AI-driven platform that’s vertical-agnostic and makes use of messaging to personalize the cellular purchasing expertise and ship the most effective promotional costs. Their flagship journey product, Snaptravel, has saved customers over 100,000 hours of purchasing time and over $100MM USD in direct financial savings and with a worldwide supply of stock, has secured bookings in 10,000+ cities throughout 150+ nations.
Current traction primes Snapcommerce for accelerated progress in journey, particularly as bookings are again on the rise and are expected to increase. This summer season, Snapcommerce is about to debut its shopper items product, addressing a priceless new market whereas persevering with to execute on making cellular commerce simpler and extra reasonably priced at scale.
“What excites me most about Snapcommerce is the flexibility of its platform—it may be utilized to virtually any shopper vertical which makes for an enormous complete addressable market,” mentioned Weisenfeld. “As we transfer from journey into shopper items and different verticals, we’re in a position to present the identical kind of worth to customers whereas nonetheless accelerating the corporate’s progress charge. Match this with the crew’s entrepreneurial prowess, who grew Snapcommerce’s journey enterprise and capital exponentially throughout the pandemic, and also you’re extremely well-positioned to proceed to drive outsized progress in as we speak’s evolving on-line shopper surroundings.”
Kashyap and Weisenfeld be part of co-founders Hussein Fazal and Henry Shi, two entrepreneurs well-versed in constructing priceless ventures and world groups. Fazal’s earlier startup, AdParlor, reached $100 million in income earlier than being offered to AdKnowledge. Shi previously served as an engineer at Google.
“Snapcommerce is proud to welcome Anan and Daniel, whose backgrounds in e-commerce, journey and retail are each spectacular and extremely synergistic with the place we sit and the place we’re headed,” mentioned Fazal. “They bring about a breadth of expertise, investor relationships and advisory experience that can show invaluable to the corporate as we construct out the crew for our progress initiatives throughout cellular commerce”
Since founding Snapcommerce in 2016, Fazal and Shi have closed over $100M in complete funding. As a part of their most up-to-date spherical in March, Sherif Guirgis joined present board members Chris Arsenault and co-founders Hussein Fazal and Henry Shi. Snapcommerce is backed by a worldwide community of enterprise and strategic traders together with iNovia Capital, Telstra Ventures, Lightbank, Bee Companions, Acrew, & Thayer Ventures, alongside Expedia CEO Peter Kern and NBA famous person Steph Curry investing in earlier rounds.
For extra info, go to www.snapcommerce.com.
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Snapcommerce, is the cellular commerce platform that makes use of AI to attach price-conscious customers to the most effective promotions on-line. The corporate’s flagship product, Snaptravel gives nice journey offers over SMS, Messenger, and WhatsApp. Snapcommerce was co-founded by serial entrepreneur Hussein Fazal and former Google engineer Henry Shi. For extra info, go to www.snapcommerce.com and www.snaptravel.com.
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