Boxed

Boxed

Online retailer for bulk groceries and supplies

About Boxed

Simplify's Rating
Why Boxed is rated
C-
Rated D+ on Competitive Edge
Rated C on Growth Potential
Rated C on Rating Differentiation

Industries

Consumer Software

Consumer Goods

Company Size

51-200

Company Stage

IPO

Total Funding

$480.1M

Headquarters

New York City, New York

Founded

2013

Overview

Boxed.com is an online retailer that allows customers to shop for groceries, household products, and health supplies in bulk without requiring a membership. The platform delivers products directly to customers' doors, making it a convenient option for both individual consumers and small businesses. Boxed.com offers a wide selection of items at wholesale prices, which helps customers save money and time by avoiding trips to physical stores. The company also provides a service called "Boxed for Business," enabling companies to place group orders and receive additional discounts. Boxed.com differentiates itself from traditional wholesale clubs by eliminating membership fees and focusing on e-commerce, making bulk shopping accessible to everyone. The goal of Boxed.com is to provide a cost-effective and convenient shopping experience for those looking to buy in larger quantities.

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Simplify's Take

What believers are saying

  • Increased online grocery shopping presents growth opportunities for Boxed's market share.
  • MSG Distributors' acquisition could provide resources for Boxed's post-bankruptcy growth.
  • Growing digital engagement with grocers supports Boxed's digital marketing expansion.

What critics are saying

  • Competition from established warehouse clubs threatens Boxed's market share.
  • The collapse of Silicon Valley Bank impacted Boxed's financial stability, leading to bankruptcy.
  • Legal investigations into securities fraud could result in financial penalties for Boxed.

What makes Boxed unique

  • Boxed offers bulk shopping without membership fees, unlike traditional warehouse clubs.
  • The company provides direct-to-door delivery, saving customers time and transportation costs.
  • Boxed caters to both individual consumers and businesses with its 'Boxed for Business' service.

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Funding

Total Funding

$480.1M

Above

Industry Average

Funded Over

9 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison
Coming Soon

Benefits

Working with smart, positive people

Competitive salary

Stock options

Unlimited vacation

Full healthcare benefits.

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

-1%

2 year growth

-9%
PYMNTS
Sep 12th, 2023
14% Of Consumers Exclusively Purchase Groceries Online

A small but significant share of consumers steer clear of grocers’ physical stores completely, turning to their smart devices to purchase the foods and beverages they need, PYMNTS Intelligence reveals. By the Numbers. For the recent report “Consumer Interest in an Everyday App,” a PYMNTS and PayPal collaboration, we surveyed more than 2,200 U.S. consumers to understand how they use apps to meet their shopping and financial needs, among other matters. According to the results, 14% of consumers reported that, in the previous 30 days, they had exclusively purchased groceries using internet-connected devices. Plus, an additional 39% purchased groceries both by using connected devices and via more traditional means

PYMNTS
Aug 22nd, 2023
Warehouse Club Chains’ Share Gains Hold Even As Grocery Inflation Slows

Membership chains such as BJ’s Wholesale Club are seeing the gains they made at the highest points of grocery inflation hold strong, even as price increases moderate.BJ’s, for its part, a membership warehouse club chain with 238 locations across 19 states, discussed this trend on a call with analysts Tuesday (Aug. 22) discussing its second-quarter 2023 earnings results.Bob Eddy, the chain’s chairman and CEO, shared that the company’s gains in grocery have continued even as year-over-year food-at-home inflation has slowed, and in some categories even decreased.“[We saw] sales growth across each of our income cohorts driven by increases in trips and spend per member,” he said on the call. “We were pleased with this result, considering continued grocery disinflation. … Our grocery and consumables business continues to be very strong.”Eddy cited Circana research showing that the company has gained market share “once again,” seeing sales increase “nearly two times faster than our key competition” in the areas in which the wholesaler has a presence.Similarly, on Walmart’s most recent earnings call Thursday (Aug. 17), the retail giant shared that comparable sales for its membership-only warehouse chain subsidiary Sam’s Club were up 5.5%, and the chain saw membership growth in the mid-single digits.“Talking about the member health, we’ve seen historic growth in our membership base over the last few years, and we continue to see growth in absolute member numbers,” Sam’s Club President and CEO Kathryn McLay told analysts on the call. “… We feel strong about the health of our membership and the growth that we’ve seen.”Additionally, Costco, a warehouse club chain with more than 850 locations around the world, shared in its monthly sales report for July that comparable sales have held strong relative to the same four-week period last year, with comparable sales up 2.5%

Friday Takeaway
Aug 19th, 2023
Online wholesaler Boxed acquired after filing for bankruptcy

Despite raising over $318 million in funding over its operational span, Boxed encountered challenges in the competitive online grocery landscape.

Chain Store Age
Aug 18th, 2023
Done Deal: Boxed.com acquired

MSG Distributors announced it has completed its acquisition of Boxed.com and other various intellectual property portfolios and affiliates (collectively, "Boxed") in an all-cash transaction.

WSAZ
Aug 18th, 2023
Boxed.com Acquired by MSG Distributors, Inc.; A New Chapter Begins for Membership-Free Wholesale Retailer

FARMINGDALE, N.Y., Aug. 18, 2023 /PRNewswire/ -- MSG Distributors, Inc. ("MSG") is proud to announce that our acquisition of Boxed.com and other various intellectual property portfolios and affiliates (collectively, "Boxed") in an all-cash transaction has been completed.

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