Groupon says its focus is on the bottom line, rather than top-line growth.
The web-only retailer of wall art says it posted record profits on sales of more than $140 million last year. It also promoted chief operating officer Geoffroy Martin to chief executive, as founding CEO Michael Heinstein assumes the role of chairman.
Art.com Inc., a web-only retailer of posters, prints and framed art, says it posted record profits on sales of more than $140 million last year. It also promoted chief operating officer Geoffroy Martin to chief executive, as founding CEO Michael Heinstein assumes the role of chairman.
A privately held company, Art.com doesn’t report comprehensive financial numbers. But it also noted that it passed the 10 million customer milestone in December.
Heinstein, who founded the company as AllPosters.com in 1998, says Martin is expected to lead the company’s next phase of growth.
"I am pleased with the board of directors` decision to appoint Geoffroy CEO," Heinstein says. "Geoffroy`s operational and strategic leadership has transformed Art.com Inc. into the e-commerce leader in the wall art market and he is the ideal choice to drive the company to the next level of growth and success."
Martin joined the company in 2004 and has since been involved in multiple operating areas, including engineering, human resources, marketing and web site user experience. He developed the e-retailer’s strategy for selling abroad, and the company now sells to more than 120 countries.
Art.com emerged as an expanded company in 2005, when AllPosters.com Inc. merged with the former Art.com Inc. Heinstein, who had been the top executive at AllPosters, became CEO of the merged company. The retailer continues to operate Art.com and AllPosters.com as separate retail art sites.
Prior to joining Art.com, Martin developed and led the planning organization and supply chain operations at ONI Systems Inc., a telecommunications products company that has since been acquired by Ciena Corp., a provider of computer network infrastructure.
Emeryville, CA-based Art.com, No. 99 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name), is backed by investment firms Benchmark Capital and Polaris Ventures.