Auctionbytes-NewsFlash, Number 686 - January 22, 2004 - ISSN 1539-5065
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eBay and VCs Give $7 Million to ChannelAdvisor Corporation
By Ina Steiner
AuctionBytes.com
ChannelAdvisor Corporation, a leading provider of auction management services, announced that it has secured $7 million in funding from Kodiak Venture Partners, Blue Sky Ventures and eBay, while continuing the rapid addition of new Fortune 500 companies to its client roster. The capital will be used to expand ChannelAdvisor's sales and marketing efforts, fund new product development initiatives, and support the company's entrance into new markets.
"ChannelAdvisor, one of the leading solution providers, continues to excel in helping large Fortune 500 companies sell on eBay and we are excited to participate in this round of funding," says Randy Ching, Vice President of Platform Solutions, eBay. "ChannelAdvisor continually develops innovative solutions and we look forward to its continued success in helping sellers grow their businesses on eBay."
eBay also participated in a $5.7 million round of funding in ChannelAdvisor last year led by Boston-based Genesis Venture Partners, L.P. (GVP). http://www.auctionbytes.com/cab/abn/y02/m01/i30/s01
http://www.channeladvisor.com
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