Cart.com acquired the valuable domain name before launching last year.
This time last year, Cart.com was a domain name listed for sale on the Uniregistry marketplace. Today, it’s the name of an innovative brand that is making waves in the eCommerce world.
Cart.com was founded in September 2020 by Omair Tariq, who was previously an executive at Home Depot and COO of Blinds.com, and Jim Jacobson, former CEO of RTIC Outdoors.
The experienced duo set about disrupting the vast online shopping industry by developing an eCommerce-as-a-service platform, helping businesses of all sizes excel. It’s difficult to compete with the behemoth that is Amazon, which attained net sales of $113.1 billion in Q2 of 2021.
However, one of Cart.com’s aims is to wean businesses away from the Amazon ecosystem to thrive alone.
Since launching its platform in November 2020, Cart.com has started serving over 2,000 eCommerce brands.
Keen to capitalize on this traction, Cart.com has raised a $98 million Series B funding round with contributing investors including PayPal Ventures and Casper CEO Philip Krim. That takes Cart.com’s total funding to $143 million.
Much of that funding is being spent on expanding the Cart.com team, as evidenced by the 59 available positions at Cart.com.
At Cart.com’s core is a category-defining domain name that founders Omair Tariq and Jim Jacobson smartly invested in before the company launched. According to WHOIS history, the domain likely changed hands in September 2020, moving from one privacy-protected Uniregistry account to another.
Another bright move from the founders was to brand the company around the domain name, leveraging the power of a strong domain name to their advantage. The Cart.com domain name is prominently displayed on the company’s website, social media, and even on its swag. This is reminiscent of the decision that Blinds.com, Tariq’s former employer, made.
The move to use Cart.com as the domain name and company name will help increase traffic and make it easier for potential clients to find the company. It might also increase conversion rates while possibly reducing customer acquisition costs. It certainly shows that that company is credible.
Tariq and Jacobson have achieved an incredible feat. Launching a company, setting up a vast team, signing up thousands of clients, and raising nine figures in funding within a year is staggering. I’m equally impressed by the decision of the founders to invest in the Cart.com domain name to give this eCommerce-as-a-service company a firm foundation.
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Original article: Cart.com raises $98 million in Series B funding
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