Internet seller E Revolution Ventures expandsBooming company cuts ribbon on new headquarters
Third-party internet seller E Revolution Ventures has been doing big business from an unassuming industrial park in Selbyville.
So much business the company recently cut the ribbon on expanded facilities as E Revolution Ventures staff and administration were joined by local dignitaries, members of the business community and neighbors at Selbyville industrial park.
Recently ranked seventh on Internet Retailer magazine's list of fastest-growing e-commerce companies, E Revolution Ventures has turned a profit in Delaware every year since 1997, when President Stu Eisenmen arrived in Selbyville and struck up the online business.
"Our No.1 core belief is, first and foremost, that we have a responsibility to remain profitable," Eisenmen said. "What we do today is data-driven e-commerce. We use data rules and algorithms, then make the decision to buy based on real-time, up-to-date data."
In other words, E Revolution Ventures is committed to profitability, and his staff achieves this goal by tracking up to 20 million items, which they acquire, ship and sell through internet retailers such as Amazon.
Starting from a brick-and-mortar specialty toy store that caught on to the recreational kite craze of the 1980s and '90s, E Revolution Ventures does most of its business online. It has been able to continue identifying the next big thing in other industries: in 2002, the company identified Minnetonka Moccasins as a trending item, and in 2007 they stocked up on Crocs, the rubber shoes now seen everywhere.
More recently, a solar-powered pool cleaner was identified as a new craze, and the company has secured a large portion of the business surrounding the new device.
Eisenmen said his buyers have a certain amount of money they must spend each day to maintain their algorithms, and sometimes the next big item is a bit elusive.
Buyers might look at buying products such as the remainder of a shipment of items that is not expected to be shipped again for several months, the E Revolution president said. That allows the company to maintain stock of an item that would otherwise be on backorder for competing retailers.
"I love it when they spend the budget because we always have a list of lower-margin items we didn't get to order," Eisenmen said. The company receives nearly 10,000 individual orders daily.
Live sales are updated every five minutes in the Silicon-Valley style operations headquarters, and buyers monitor these items to determine where their allowance is best spent each day.
More than simply maintaining stock and identifying the next big item, another important aspect of this business is the quality of the online listings.
Cranberry, N.J., salesman Randy Robinson attended the ribbon-cutting event in Selbyville and said his company, HBC, sells hardware mostly through direct retailers such as True Value, Walmart and Target.
Entering into a business agreement with E Revolution Ventures will give HBC access to other online retailers, allowing the company to move more stock.
"I am working with their product managers to bring in our products for them to sell," Robinson said. "We source products, get samples and find factories."
Partnering with Del Tech
Eager to work with and for the community, E Revolution Ventures has also reached out to Delaware Technical Community College, said DTCC Vice President and Campus Director Dr. Ileana M. Smith.
"We are going to be working together on building entrepreneurship," Smith said. "They have a lot of know-how that we can tap into."
At the new facilities, E Revolution Ventures not only maintains warehouse stock; the company also employs a team of professional photographers and copywriters to create appealing online listings for items they sell.
The new offices consist not only of warehouses, accounting, administration and photography studios, but much like their e-commerce contemporaries, E-Revolution industries provides employee perks such as a game-filled break room and employee gym.
"We're big on building a culture here. We're open six days a week. We also have a yoga class and fitness classes," Eisenmen said, smiling. "But it's not all roses here; notice there's no nap room."
For more information about E Revolution Ventures go to www.erevolutionventures.com.