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Acquco, an acquirer of third-party sellers on Amazon, is said to be finalizing a second round of funding.

Why it matters: After securing a $160 million series A consisting of debt and equity last March, the company tells me this next round (also debt and equity) will be even bigger.

The company declined to comment on its valuation.

My thought bubble: Looking at Thrasio, a peer, we can ascribe a rough valuation of a bit more than $2 billion to Acquco. That's based on Thrasio's 5x revenue valuation of $5 billion. 

Details: Initially, the plan was to announce the series B by the end of the year, a spokesperson said, but the amount of interest exceeded expectations.

What's next: Proceeds will largely go toward M&A, though a portion will be invested in omnichannel efforts and entering new markets.

While the company buys businesses across a range of categories, its primary focus is on the home and kitchen, plus pets.

Targets have sales of at least $3 million annually.

Acquco avoids fads, for example, fidget spinners, and heavily seasonal businesses such as Christmas trees, as well as those with high obsolescence risk, such as phone cases.

By the numbers: Acquco tells me it generated revenue of $420 million in 2021, which includes $170 million in sales from 40-plus acquisitions under Letters of Intent.

By comparison, the company raked in more than $100 million in revenue in 2020, its first year in business.

Revenue this year is expected to nearly double to $800 million.

Acquco said its top Amazon brands grew 150% year over year, while its brands overall grew 60%, also year over year.

EBITDA, the company claims, was $90 million last year, a more than 2,000% increase versus 2020.

1 big thing: Valuing Amazon aggregator Acquco

Illustration of dozens of Amazon packages parachuting from the sky.

RenoRun, the Montreal-based seller of building materials online, raised a $142 million Series B round co-led by Tiger Global and Sozo Ventures, the company said this morning.

Why it’s the BFD: RenoRun will be competing against home improvement giants Home Depot and Lowe's, which are spending big on their B2B building contractor business.

CEO Eamonn O'Rourke tells me he hopes to build this into a $30 billion business.

By the numbers: O'Rourke declined to specify the company's revenue, but he said in 2021 it was a nine-figure number (read: above $100m), an amount he expects to break this year.

"The business has grown at least 3x each year since inception in 2017 and will continue to do so," a spokesperson added.

The company declined to comment more specifically on either EBITDA or its valuation.

O'Rourke said because supplying building contractors with materials is a highly fragmented space, there's enough room for new competitors.

What's next: The company plans to invest proceeds in furthering its expansion from Canada into the U.S.

So far the company has launched in three U.S. cities, with Washington, D.C., slated to be the fourth.

It is also rolling out a new "buy now, pay later" feature for customers, O'Rourke said.

2. The BFD: RenoRun raises $142M Series B

A construction worker prepares to install siding on a house, as snow-capped mountains hover in the background.

A construction worker prepares siding to install. Photo: George Frey/Bloomberg via Getty Images

• Prodege, a marketing technology company, has acquired polling platform, Pollfish. The move marks the first deal Prodege struck following its investment by Great Hill. Prodege properties include Swagbucks, MyPoints and Upromise.

• Wayflyer, a Dublin-based financing platform for e-commerce merchants, raised $100m at a $1.6b valuation. DST Global and QED Investors co-led, and were joined by Prosus, Madrone Capital Partners, JPMorgan, and insiders Left Lane Capital and Guillaume Pousaz. http://axios.link/Moul

• Channable, a Dutch e-commerce marketing management startup, raised €55m in Series B funding. Partech led, and was joined by Peak. www.channable.com

• Lunchbox, a New York-based digital ordering platform for enterprise restaurant chains and ghost kitchens, raised $50m in Series B funding. Coatue led, and was joined by Primary Venture Partners and 645 Ventures. www.lunchbox.io

• Purely Elizabeth, a Boulder, Colo.-based breakfast and granola brand, raised $50m in Series B funding. Semcap led, and was joined by Swander Pace Capital and Fresh Del Monte. http://axios.link/YoH3

• YFS, an Egyptian instant delivery startup, raised $7m in Series A funding. DisruptAD led, and was joined by Flybridge Ventures and I Squared Capital. http://axios.link/71dz

• SBJ Capital bought Rack & Riddle, a Healdsburg, Calif.-based sparkling wine producer. www.rackandriddle.com

• Hooker Furnishings bought Sunset West, a Vista, Calif.-based outdoor furnishing manufacturer, in an all-cash deal. http://axios.link/rGgO 

3. Retail transactions

• Bolt's Ryan Breslow is transitioning from CEO of his $11 billion company to the executive chair position. COO Maju Kuruvilla, as first reported by TechCrunch's Connie Loizos, will take over as the chief executive. Kuruvilla was formerly a senior executive at Amazon, where he ran global logistics and fulfillment.

4. It's Personnel 

Situational awareness: Fashion group Zegna said revenue was up 27% year over year, another sign of strong luxury demand. 

February 01, 2022

1 big thing: Valuing Amazon aggregator Acquco