Startups

GSI Commerce founder launches Kynetic [Tech Crunch]

Tech Crunch: When eBay bought GSI Commerce for $2.4 billion in cash and debt in March, it was somewhat surprising to lean that the e-commerce giant’s founder and CEO Michael Rubin was not staying on with eBay. Instead of joining his new parent company, Rubin announced he would form a new independent company that would […]

Tech Crunch:

When eBay bought GSI Commerce for $2.4 billion in cash and debt in March, it was somewhat surprising to lean that the e-commerce giant’s founder and CEO Michael Rubin was not staying on with eBay. Instead of joining his new parent company, Rubin announced he would form a new independent company that would include the GSI businesses that eBay didn’t want (or more kindly put, were ‘not core to the company’s long-term growth strategy’). These businesses included GSI’s licensed sports merchandise business, Fanatics, ShopRunner and flash sales site Rue La La. Today, Rubin is officially announcing the new holding company, called Kynetic, which for now features the e-commerce businesses mentioned above.

[Tech Crunch]

Companies: eBay Enterprise / Kynetic
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Donate to the Journalism Fund

Your support powers our independent journalism. Unlike most business-media outlets, we don’t have a paywall. Instead, we count on your personal and organizational contributions.

Trending

When global tech association CompTIA spun off its nonprofit arm, the TechGirlz curriculum went dark

Real or cake? How AI confuses baking — and what bakers wish you knew

Biotech startup BioLattice wins pitch prize — but says the real value was showing up

This entrepreneur from Ireland is helping US farmers wield analytics

Technically Media