CommerceHub Spinning Off On Its Own

CommerceHub, an eCommerce service company, has spun off on its own and began trading as its own public company on the Nasdaq on Monday (July 25), according to Internet Retailer.

The company was spun off from Liberty Interactive Corp. and now trades under CHUBA and CHUBK on the Nasdaq.

“There’s a newfound sense of independence, and we can leverage public currency but, in some ways, not much has changed [with the spinoff],” Frank Poore, CommerceHub’s president and CEO, told Internet Retailer. “We’re continuing to execute on our successful growth plan, satisfying our customers and building the size of our network.”

CommerceHub’s stock opened at $13.55 on Monday and closed at $13.85 on Wednesday.

The company’s revenue grew 33.1 percent in 2015, from $65.8 million in 2014 to $87.6 million in 2015, according to Internet Retailer.

CommerceHub was founded in 1997 and acquired by Liberty Interactive in 2010. The company is a “distributed commerce network connecting supply, demand and delivery that helps retailers and brands increase sales by expanding product assortments, promoting products on the channels that perform and enabling rapid, on-time customer delivery.”

Poore told Internet Retailer that CommerceHub helps retailers by “connecting them with supplies to create ‘virtual inventory.’” The company then handles the logistics to make sure the products arrive on time at the retailer’s doorstep.

According to CommerceHub, it helped its 9,500 customers achieve an estimated $11.6 billion in gross merchandise value in 2015 alone.