Hayneedle

Hayneedle, Inc.
Online Retailer
Industry eCommerce, Online shopping, Retail, Homewares, Furnishings
Founded 2002
Headquarters Omaha, Nebraska, United States
Key people
 Jon Barker (President & CEO)
Products Indoor & outdoor home furnishings, electronics and decorations
Revenue $350,000,000
Owner Walmart
Number of employees
 800[1]
Parent Jet.com (2016–present)
Website hayneedle.com

Hayneedle is an online retail company based in Omaha, Nebraska, United States. The company operates hayneedle.com, an online specialty store with a focus on indoor and outdoor home furnishings and decor as well as furnishings available for commercial use. Hayneedle currently employs over 800 people in the Omaha Metro area, Monroe, Ohio, and Riverside, California.[2]

History

Hayneedle began in 2002 with the purchase of a single online store, Hammocks.com, from a llama farmer in rural Washington state. Over the next few years, the company opened more online stores, each focused on one particular type of product, developing a portfolio of sites focused on indoor and outdoor home furnishings, accents, and decor. In 2005, the company unified under the name NetShops, and continued its category expansion. By acquiring Duluth, Minn.-based Thralow, Inc. in 2006, the company gained properties Telescopes.com and Binoculars.com, and underwent an internal restructuring.[3] 2007 saw another corporate restructuring, more niche website expansion, and the acquisition of GiftBaskets.com. By this time, NetShops had launched and operated hundreds of online specialty shops.

In 2009, the company rebranded as Hayneedle[2] and further expanded its selection to include more items focused in the areas of office, kitchen, bedding, pet supplies, lighting, home storage, and home improvement, among others.[4] In the spring of 2014, all 300+ sites previously in operation under Hayneedle, Inc. were rolled into hayneedle.com.

On October 15, 2010, Hayneedle opened The Foundary, a website for limited-time sales of home products from designer brands. The site featured a limited-time, limited-quantity format, with 3 to 4 sales launching per day, each typically lasting 72 hours. The Foundary was a members-only website; membership was free. In 2013, The Foundary shifted emphasis and merged with Hayneedle to form the first Stylist in hayneedle.com's Idea Gallery. The Idea Gallery[5] at hayneedle.com serves as a space for curated collections of furnishings and housewares focused on a number of different styles, each of which is categorized under a specific Stylist. Collections vary but many reflect current trends within the marketplace and are intended to provide a convenient shopping experience as well as inspiration.

In 2016 Hayneedle was acquired by e-commerce retailer Jet.com and later became part of the Walmart family of brands.[6] In 2017 Hayneedle is poised for exponential growth as it launches a national campaign focusing on "the love of home."[7]

Leadership and Changes

The current President and CEO of Hayneedle is Jon Barker, who, in 2014,[8] officially took over for Doug Nielsen, one of the original founders, along with partners Julie Mahloch and Mark Hasebroock.[9] Nielsen was at the helm from the company's inception until 2007, when Carter Cast, formerly of BlueNile and Walmart.com, served as CEO during the brand relaunch. The Hayneedle executive team expanded and changed throughout the brand transition from 2007 to 2009. In 2010 Nielsen and Cast exchanged roles, with Nielsen resuming control of day-to-day operations for all of Hayneedle.[10] In April 2014, it was announced that Jon Barker, formerly the Chief Operations Officer for Hayneedle, would be succeeding Nielsen as President and CEO.

Hayneedle has gone through a number of internal changes while keeping pace with business and economic climates, but has experienced double-digit growth over the course of its history. Hayneedle's Customer Care Center and photo studio are based in Omaha. Hayneedle currently operates two fulfillment centers – one in Monroe, Ohio,[11] and the other, which began operating in 2013, in Riverside, Calif. The company has hired over 100 people per year since 2010, currently employing over 800 people across its locations.[12]

Hayneedle was previously privately held and funded by Insight Venture Partners and Sequoia Capital. In March 2016, Hayneedle was acquired by the privately held American e-commerce company Jet (Jet.com), becoming a wholly owned subsidiary of the retailer.[13][14] Hayneedle is now part of the Walmart family of brands.[15]At present, Hayneedle continues to operate independently as hayneedle.com under the leadership of its current management team.

Ratings and Media

Hayneedle has been a Better Business Bureau accredited business since 2002 and currently holds an "A+" rating with the BBB.[16]

The Greater Omaha Chamber of Commerce named Hayneedle (then known as NetShops) one of "Omaha's Best Places to Work" in 2005 thru 2013 and again in both 2014 and 2015 and awarded Hayneedle the "Excellence in Business Award" in 2007, 2008, 2010, 2011, 2013 and 2015.

Internet Retailer's Top 500 list placed Hayneedle (as NetShops) at #10 based on online gross revenue. In both 2015 they named Hayneedle the 11th largest mass merchant on the web based on total sales, and the 22nd largest retailer. In 2007, 2008, 2011, 2013 and 2014 Internet Retailer Magazine named Hayneedle among one of their Top 10 best internet retailers.[17] Hayneedle ranked #19 in 2010, #17 in 2011, and #15 in 2012 on the magazine's Top 500 Internet Retailers list.[18]

Inc.com, the website for Inc. magazine, listed Hayneedle (as NetShops) at #3 on its "5,000 Fastest Growing Private Companies in America" list in 2006 and #15 in 2007. Hayneedle (as NetShops) also ranked at #2 for all online retail companies in 2007.

Hayneedle was named on Internet Retailer's Hot 100 list of online merchants in 2009.

In December 2013, both Internet Retailer and LightningBuy ranked hayneedle.com's mobile shopping experience #2[19] on the List of Hot 100 E-Retailers for 2014 and Top 100 Online Retailers, respectively. Hayneedle is currently listed as #5 on Internet Retailer's list of the Top 500 Retailers.[20]

References

  1. ↑ "Omaha World Herald". www.omaha.com. Retrieved 2017-06-05.
  2. ↑ "Omaha World Herald". www.omaha.com. Retrieved 2017-06-05.
  3. ↑ http://www.businesswire.com/news/home/20061116005849/en/Internet-Retailer-NetShops-Acquires-Binoculars.com-Telescopes.com
  4. ↑ http://www.omaha.com/article/20090812/MONEY/708129984
  5. ↑ "Omaha World Herald". www.omaha.com. Retrieved 2017-06-05.
  6. ↑ "Casual Living". casualliving.com. Casual Living. Retrieved 2017-06-05.
  7. ↑ "Jon Barker replaces Hayneedle co-founder Doug Nielsen as chief executive". Omaha.com. Retrieved 2016-03-01.
  8. ↑ http://www.hayneedleinc.com/about-us/history
  9. ↑ http://www.prnewswire.com/news-releases/hayneedle-executives-shuffle-roles-105280688.html
  10. ↑ http://www.prnewswire.com/news-releases/hayneedlecom-cuts-ribbon-on-new-distribution-center-in-monroe-on-thursday-july-15-2010-98253684.html
  11. ↑ "Hayneedle looks forward to boost in sales, hiring after Walmart buys its parent company". Omaha World Herald. 2016-08-24. Retrieved 2017-06-05.
  12. ↑ "Amazon Challenger Jet.com Acquires Online Home Retailer Hayneedle". Forbes. Retrieved 2016-03-01.
  13. ↑ Maple, Tracy. "Jet.com acquires online retailer Hayneedle". Retrieved 2016-03-01.
  14. ↑ http://www.ketv.com/article/walmart-buys-jet-giving-it-control-of-omaha-based-hayneedle/7661868
  15. ↑ http://www.bbb.org/nebraska/business-reviews/internet-shopping/hayneedle-in-omaha-ne-104009872
  16. ↑ "Internet Retailer". Internet Retailer. 2007. Archived from the original on 2008-07-09. Retrieved 2007-09-27.
  17. ↑ http://www.internetretailer.com/top500/list/
  18. ↑ "Convert mobile traffic to sales | Sell from mobile - LightningBuy". main.lightningbuy.com. Retrieved 2016-03-01.
  19. ↑ "company-search - Our Data | Top500Guide.com". www.top500guide.com. Retrieved 2016-03-01.
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