Online At-Home Health Tests Company Raises $30M, Stamps.com Predicts Growth with B2B Shippers and How Grainger Expects Market Share Growth
Online At-Home Health Tests Company Raises $30M
LetsGetChecked.com, a healthcare ecommerce company that sells testing kits on its site and other websites such as CVS and Walmart, has raised $30 million in new funding. The ecommerce company, founded in 2014, connects customers to regulated laboratory testing and includes testing for cholesterol, cancer screening, fertility, thyroid, and more. When a customer buys a test kit online, it is shipped by next-day delivery and once completed, the customer can return their samples for quick processing, as little as two days. To date, LetsGetChecked.com has conducted approximately 155,000 tests.
What stood out to us? Soon, we’ll never have to leave our homes.
Stamps.com Predicts Growth with B2B Ecommerce Shippers
Stamps.com, an online provider of postage and related services, had a difficult Q1, with net income falling 67% year-over-year to $15.8 million on a 2% rise in revenue to $136.0 million. However, ecommerce growth and expanding shipping services by FedEx, UPS and other B2B and B2C shippers all contribute to a brighter future for Stamps.com. “Ecommerce-driven packages have become a larger and larger portion of the total package industry and the growth in trends in ecommerce are the most significant factor driving overall package growth worldwide,” says Stamps.com CEO Ken McBride. FedEx’s B2B shipments in Q1 increased 2% year-over-year, close to 2.5% growth in B2C shipments. UPS had a Q1 growth of 0.3% to $1.16 billion.
What stood out to us? Any other predictions?
How Grainger Expects Market Share Growth
W.W. Grainger Inc., a strong player in B2B ecommerce, wants to take ecommerce to the next level; not just this year, but every year to follow. CEO D.G. Macpherson laid out the distributor’s strategy for reaching its goal of 3% to 4% annual increases in market share. Some of the pivotal steps to reach the goal include expanding products on Zoro.com, hiring new talent to improve site search on its flagship ecommerce website, Grainger.com, and developing a more effective marketing strategy. “Our top priority now is to drive profitability and sustainable growth in the United States with our Grainger and Zoro brands,” says Macpherson.
What stood out to us? Talent, site search and better marketing. Sounds like a plan.
In the headlines
- Getting urban: This July, clothing company Urban Outfitters is launching a rental clothing subscription service called Nuuly.
- A growing giant: Ecommerce giant Walmart sees 37% ecommerce sales growth in Q1.
- Another growing giant: Target sees online sales surge 42% in Q1.
- A digital world: Amazon is stirring up the digital freight services market, competing with online firms such as Loadsmart, Convoy, Uber Freight and more.
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