Retailer placing orders via Faire’s mobile app.

Faire: the economic engine for a million local retailers.

Doubling down on Lightspeed’s investment in Faire, the leading wholesale marketplace for independent brands and retailers.

Alex Taussig
Oct 30, 2019 · 3 min read

Today, the WSJ announced a $150 million Series D round for Faire, led by our friends at Founders Fund, with a significant investment from Lightspeed, Y-Combinator, Forerunner Ventures, and more.

Stocking shelves at Candlefish (Charleston, SC) — one of Faire’s 50,000+ retailers.

When Lightspeed first partnered with Faire in 2018, we were convinced that small is the next big thing in retail. We also knew that the off-cited retail apocalypse isn’t evenly distributed.

Small retail, in fact, is thriving in the age of Amazon.

Owner of Tender Loving Empire (Portland, OR) shopping on Faire.

Over a million U.S. independent retailers transact over a $1 trillion in annual sales, with none of the tools or financial resources of larger players. Faire levels the playing field by building an economic engine for these retailers. It matches them with products that are guaranteed to sell in store; and, with net 60 payment terms, Faire provides them with working capital to fund their growth. Driven by this value proposition, the vast majority of Faire’s retailers have joined the platform through word-of-mouth or referral.

This year, Faire expanded to serve over 50,000 retailers domestically. To put that number in perspective, if all the retailers on Faire constituted a single chain, it would be the largest retailer by “doors” in the entire country — more than Subway (26,932 stores), Dollar General (15,472), McDonalds (14,155), or Starbucks (13,172). Faire has remarkably achieved this scale in under 3 years.

More than 15 million products have been sold through Faire from over 7,000 brands. It has launched new categories like apparel and kids and has activated its first international makers in Canada. Overall, Faire has grown 4x year-over-year and sold $1 million in a single day for the first time last month.

The team has also grown by leaps and bounds. From under 40 a year ago, Faire is now 180+ employees across offices in San Francisco, Kitchener-Waterloo, and Salt Lake City. Lauren Cooks Levitan joined as CFO from Fanatics, the global leader in sports merchandise with over $2 billion in revenues. Jeff Kolovson — who originally co-founded Faire alongside Max Rhodes, Daniele Perito, and Marcelo Cortes — re-joined the company as COO after spending time at Opendoor, where he led the company’s growth and operations from 2 to 20+ cities.

Lauren Cooks Levitan (CFO) and Jeff Kolovson (co-founder/COO), new additions to Faire’s executive team in 2019.

At Lightspeed, we are thrilled to continue to support this exceptional team, which is on a mission to accelerate the growth of the local retail economy.

Oh, and guess what? Faire is hiring. Check out the company’s career page here:

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Lightspeed Venture Partners

Lightspeed is a multi-stage VC firm focused on accelerating…

Alex Taussig

Written by

VC at Lightspeed. Consumer tech enthusiast. Partner to AWA, Daily Harvest, Faire, Flockjay, Zola, thredUP, RentJuice/$Z, $TWOU, $CBLK. Reformed physicist.

Lightspeed Venture Partners

Lightspeed is a multi-stage VC firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors. In the past two decades, Lightspeed has backed 400 companies and currently manages $7.9B across the global Lightspeed platform.

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