SOURCE: Bonanza

Bonanza

May 03, 2011 09:00 ET

Christmas in April: Bonanza's Record Revenues Surpass Holiday Peak

Company Credits Increased Brand Recognition Following Name Change

SEATTLE, WA--(Marketwire - May 3, 2011) - Bonanza, the leader in community-driven social commerce, announced today that it set a new monthly revenue record for April, breaking the previously established record in December of last year.

"We're particularly proud of our April numbers given how significant the holiday peak is to our business. Like many e-tailers and marketplaces, December is typically our best month of the year. The fact that we surpassed December revenue in April is a great sign as we look ahead to Q4 this year," said Bill Harding, chief executive officer of Bonanza. "Our April results are a reflection of our hard work and, of course, the efforts of our amazing community of merchants."

Founded in 2008, Bonanza has quickly become one of the most popular social commerce sites on the Internet. At present, Bonanza has more than two million monthly visitors, 500k registered users, and more than 3.5 million items for sale across its storefronts. Sales on Bonanza have increased by 150 percent over the past year, Harding said.

"What's nearly as exciting as the revenue gains are the sources of traffic. Whereas we used to derive a lion's share of traffic from search, following our name change we've seen a surge in visitors coming from other channels, including direct, referral, and email," Harding said. "Additionally, we've seen conversion rates climb as more shoppers come to know and trust the Bonanza brand. We are excited to continue building upon this as we push to further differentiate our buying experience from competitors through 2011."

Bonanza launched its first specialty store, Bags Bonanza, late last year, and rebranded itself after operating for two years as "Bonanzle." Earlier in 2010, Bonanza raised $1 million in funding from a group of prominent investors, including Ignition Partners, Voyager Capital, Founder's Co-op and Curious Office Partners, all of Seattle, and Matrix Partners of Silicon Valley. The investment round also included prominent angel investors such as BuddyTV founder Andy Liu, Wetpaint founder Ben Elowitz and Ontela co-founder Dan Shapiro.

Contact Information

  • Contact:
    Alex Berg
    Chief Product Officer
    Email Contact
    (206) 310-9959