The e-retailer spends at least 50% of its monthly display ad budget on the highly targeted, data-driven—and often cheap—ad placements using programmatic platforms.
The snack food merchant also adds a new chief financial officer to its leadership team.
Fast-growing snack food e-retailer NatureBox Inc. is putting its $18 million in new funding to work, as it added new executives to its leadership team today. NatureBox, No. 470 in the Internet Retailer Top 500 Guide, sells by subscription, offering three sizes of boxes that range in price from $19.95 to $49.95 per month.
Michael Thompson will serve as the chief supply chain officer, overseeing operations, customer service, fulfillment and inventory management. He will also manage the retailer’s new 40,000-square-foot distribution center in Indiana, which is designed to serve East Coast customers.
“I’m floored by NatureBox’s ability to rapidly produce and deliver new snacks light speeds faster than traditional [consumer packaged goods companies] while continuing to grow its consumer base,” Thompson says. “I love to help companies do things faster and better, and I’m excited to help NatureBox further improve our customer experience from beginning to end.”
Thompson previously served as the head of North American operations for Bare Escentuals Inc., a multichannel retailer of cosmetic products ranked No. 372 in the Internet Retailer Top 500 Guide. While at Bare Escentuals, Thompson transitioned the retailer from outsourcing fulfillment to managing that process internally, including operating a 400,000-square-foot company-operated fulfillment center, NatureBox says.
NatureBox also appointed Carrie Kalinowski as its new chief financial officer. She will oversee financial operations, including corporate financial, accounting, tax and treasury.
The hires follow an $18 million funding round the company announced in April, which brought to $28 million the amount the web-only retailer has raised since its founding in 2012. It launched in Canada in June.
NatureBox sold 50,000 boxes of its snack products in 2012 and 1 million boxes in 2013, says CEO Gautam Gupta. While the privately held company does not report its revenue, Internet Retailer estimates NatureBox brought in $25.0 million in revenue last year, up 150% from $10.0 million in 2012.