Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The web-only retailer also moves into a larger building.
Web-only retailer One Click Ventures is working to curb growing pains. Its 50-odd employees moved into a new 68,000-square-foot facility in April and the company expects to hire 110 workers by 2015, says co-founder and chief operating officer Angie Stocklin. In the last 12 months the company has hired 28 employees, she adds.
One Click took in $5.3 million in revenue last year and it expects to reach $8 million this year. “Our goal in the next five to six years is to reach $50 million in revenue,” Stocklin says.
One Click spent $2.25 million to buy and refurbish the new building in Greenwood, IN, Stocklin says, and is currently using 40,000 square feet of the space. The remaining area has been divided for leasing out until the company expands to fill it.
“We’ve come a long way since it was just Randy and I in our home office, filling packages at night,” she says, referring to her husband and One Click CEO Randy Stocklin, who co-founded the company with her in 2005.
Three and a half years ago, One Click moved to a 4,000-square-foot suite that it quickly outgrew—the office held both personnel and all inventory. “Everyone had about three square feet to themselves,” Stocklin says, “It literally got to the point where we couldn’t grow anymore.”
With the new building, which also serves as the retailer’s sole warehouse, One Click should have room to hire new employees and add what Stocklin projects will be one to four brands a year.
One Click brands include Sunglass Warehouse, Scarves.net and Handbag Heaven.
Todd Morris, CEO of Brickhouse Security; and Hil Davis, CEO of J. Hilburn will lead a workshop titled, “Hiring the right staff: What it costs to find and keep the right managers for your business,” at the Internet Retailer Conference & Exhibition 2012 in Chicago this June.