In its second-largest acquisition, Amazon buys the company for $970 million.
Onestop Internet (www.onestop.com) offers full-spectrum outsourced retail e-commerce development and management with a customized, brand-centric approach.
Los Angeles, CA, November 29, 2011 – Onestop Internet Inc., a leading e-commerce service provider to top consumer brands such as True Religion, John Varvatos and Seven For All Mankind, today announced a $9.15 million strategic investment from Fung Capital USA, a private equity firm that invests primarily in e-commerce and supply chain technology companies. Fung Capital USA will join Bessemer Venture Partners as investors in the company.
Fung Capital is the private investment arm of the families of Victor Fung and William Fung, the Chairman and Group Managing Director of Li & Fung Ltd. The investment reaffirms Onestop’s position as a leading end-to-end e-commerce service provider for top consumer brands. “We are excited to leverage Fung Capital’s knowledge and relationships in consumer apparel and retail to accelerate our growth. We couldn’t ask for a better partner as we expand and scale our business, particularly on the international front.”, said John Tomich, CEO and Co-Founder of Onestop.
“E-commerce is a key growth driver for many brands but many of them have neither the expertise nor the resources to keep pace with the fast changing e-commerce environment. Onestop provides a top-notch service where its financial incentives are completely aligned with each of the brands they service. As with Li & Fung, Onestop has grown by becoming a true partner with their customers and we look forward to partnering with the management team to accelerate the growth of the company.” said John Seung, Partner of Fung Capital USA.
Onestop Internet (www.onestop.com) offers full-spectrum outsourced retail e-commerce development and management with a customized, brand-centric approach. Strategic and logistical services are designed to support client growth, and include marketing & merchandising, site design, customer service, product photography, and warehousing & fulfillment. Onestop offers a complete e-commerce technology platform designed around industry best practices to provide online retailers with advanced features, rapid scalability, and efficient operations. The company's comprehensive offering is available with no up-front fees. Clients include Seven for All Mankind, True Religion Brand Jeans, J Brand, Rag & Bone, Paul Frank, Nicole Miller, Splendid, William Rast and Ella Moss. Onestop is based in Rancho Dominguez, California and was founded in 2004.
About Fung Capital:
Fung Capital USA is the private investment arm of the families of Victor Fung and William Fung who are the controlling shareholders of the Li & Fung Group of companies. This investment is unrelated to any of the listed companies of the Li & Fung Group. Fung Capital makes investments in e-commerce, supply-chain related technologies as well as in consumer product companies. The company has offices in San Francisco and Los Angeles.