Situation
A venture-backed startup firm purchased two non-Internet companies. The startup required leadership to combine the two companies’ operations, develop a website and convert the business to Internet-only operations.
Solution
A NextLevel executive, as Division GM, assisted the owners (Board) and CEO in building the business. The NextLevel executive expanded division operations staffing up to 170, obtained warehousing credit facilities, and converted the company from broker to principal. He assisted in developing a website that won the Gomez Top 5 Best of the Web honors. He also assisted in three additional venture funding rounds totaling $47 million, and developed a Cost Guarantee program for use with large affinity customers, including a global big box retailer. This service was believed to be the first service offering made in the big box retailer’s warehouses.
Results
- This division became the fastest growing business of its kind in the nation.
- The company continued to grow for two years, and was then sold to a consolidating company (LendingTree.com).