Mercent adds retail customers, plans new hiring in 2010 |
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Mercent adds retail customers, plans new hiring in 2010
Mercent, a Seattle startup that helps big brand retailers sell and market products online on Amazon, Google, and other sites, saw its customer count double in 2009 and plans to add 15 employees this year, bringing its total headcount to 60.
"As the e-commerce market grows — in particular as companies like Amazon and Google continue to capture market share — Mercent has been able to capitalize on that growth," said Mercent CEO Eric Best. "We have also been able to significantly increase our customer base over the last 12 months."
Mercent now has 120 clients, including REI, Guess, and Eddie Bauer. The startup said client sales through its platform grew 121 percent in the fourth quarter of 2009 and 84 percent for the full year 2009 (year over year). The company said its own revenue was up 106 percent in Q4 and 87 percent for the year, though Best declined to give exact figures. He said the company is profitable.
The company helps retailers sell on Amazon.com and use Amazon's third-party fulfillment and checkout services (Best himself is an Amazon veteran). Mercent also connects retailers with Google Product Search and Google's product ad tools, as well as Microsoft's Bing Cashback program. Best said he's talking with retail giant Wal-Mart and Sears about their fledgling third-party sales programs. Search marketing agency Performics, part of ad giant Publicis, also sells Mercent's platform to clients.
Amazon enjoyed a surge in profit and sales in the fourth quarter amid strong holiday sales. A big part of Amazon's growth has been its third-party sales program, letting other retailers sell products on its site.
Mercent is backed by $14 million from Madrona Venture Group and other investors.
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