Fab.com For The Mass Market: NoMoreRack Sees $46M In 2012 Revenue With No Outside Funding

While many flash sales sites focus on luxury products and/or fashion, NYC-based startup NoMoreRack is finding success by bringing consumers the stuff they need in everyday life at significantly-reduced prices -- by focusing on variety and affordability. Co-founder Melina Ash tells us that she envisions the startup as a mass market version of the uber popular Fab.com -- a Walmart of flash sales -- with a little TJ Maxx and Target to boot. Launched initially in Vancouver, NoMoreRack has flown under the radar compared to others in the space, even though it's sneaking up on the bigs. Today, in just 18 months, the startup has grown to a team of 30, with 4.5 million subscribers, 25 million page views per month, and is selling 8,000 items a day -- and 5 items per minute. What's more, in the first two quarters of 2012, NoMoreRack did $46 million in revenue, and Ash tells us that they're projecting to do $100 million in revenue this year. Not bad for a startup that hasn't taken a penny in outside funding.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/FGSI2e8uAeQ/

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