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Wayfair Sales Hit $915 Million in 2013

Boston home goods e-tailer Wayfair on Friday said revenue last year grew 55 percent to $915 million, in line with what CEO Niraj Shah had told me in September.

Wayfair now ranks as one of the few online-only retailers, other than Amazon, which have managed to reach annual sales in the range of $1 billion.

The firm is also Boston's best contender for an "anchor" company — with the potential for major growth and staying power over the long term, said Volition Capital partner Larry Cheng (who isn't a Wayfair investor) in a recent interview. The massive size of the e-commerce sector and the company's substantial number of local employees are among the reasons, Cheng said.



Wayfair employs nearly 1,000 in Boston and is eyeing an IPO for coming years, executives have said.

The 2013 revenue results represent the return of rapid growth at Wayfair, following the firm's move in late 2011 to redirect its 200 disparate online stores to The switchover impacted search traffic and the sales growth rate for the company in 2012, with revenue growing 20 percent to $600 million.

The sales growth for 2013 comes both from the firm's site as well as from its other home brands — AllModern, DwellStudio and the Joss & Main private-sale site.

Wayfair holds the top ranking among top-funded Boston tech firms that are privately held, with $201 million raised. Investors include Battery Ventures, Spark Capital, Great Hill Partners and HarbourVest Partners.

Read the whole story at Boston Business Journal »

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