Storefront is a sharing-economy company that provides short-term retail spaces for rent to companies through an online platform, used specifically as pop-up retail locations.
Video Storefront (company)
History
Storefront is an online marketplace for pop-up retail space, based out of San Francisco. The company was founded in the fall of 2012 by CEO Erik Eliason and COO Tristan Pollock, through the AngelPad start-up accelerator. The firmopened its first pop-up retail space in December 2012. Over its first six months Storefront helped to open one hundred pop-ups, and included around three million square feet of retail space by June 2013. Storefront received $1.6 million in funding in 2013 and included spaces in both San Francisco and New York City, with initial New York listings in Queens, Manhattan, and Brooklyn.
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Product
Storefront's listings largely represent short-term rentals in temporary vacancies within shopping complexes and other commercial establishments. Rentals often average from three to four weeks, providing a temporary brick and mortar space in the San Francisco/Oakland, or New York City area; i Rentals can also be shorter than a week:.
Professor David Bell of the Wharton School of Business stated of Storefront that, "It's like Airbnb, eBay and Uber rolled into one ... Storefront matches excess capacity with the demand for capacity in an efficient and scalable way." The locations also include spaces in the New York City subway system. These spaces are offered through a partnership between the New York Metropolitan Transportation Authority and Storefront. The director of leasing and operations for the authority stated that, "Our partnership with Storefront reflects the MTA's commitment to pushing the bounds of vibrancy in the subway."
Storefront's client base includes both ecommerce companies looking for temporary physical sales locations as well as offline firms like National Geographic, restaurants, and companies test-releasing future products. In April 2014 Storefront exceeded the one thousand openings mark, facilitating $30 million in sales.
References
- Notes
External links
- Official website
Source of the article : Wikipedia
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