When you walk into Etailz Inc., you can see several of the products this Spokane company has helped get big success on websites like Amazon and Ebay.
“People that manufacture products and make really cool products, we seek out those companies, we work with those companies, we add value to them getting them to international markets,” said CEO Josh Neblett.
The idea for Etailz grew from a business plan Neblett developed while he was a student at Gonzaga. He had some help from his then girlfriend Sarah, who is now his wife and co-founder.
“We decided to go out and raise a little bit of money and start this whole thing,” said Neblett.
Etailz has had major success since the start. This business reported $116 million in revenue in the last year. Now they’re being bought by Trans World Entertainment for $75 million.
“Someone asked me what are we going to do to celebrate this, and my wife and I were talking. We said we’ll go eat an ice cream at Dairy Queen,” said Neblett.
Neblett said there won’t be any layoffs for his nearly 200 employees and headquarters will stay in Spokane.
“This is not an exit. This is not ‘Hey let’s wash my hands and move on to the next thing.’ We still very much believe we’re still scraping the tip of the iceberg of what we can become,” said Neblett.
That’s the attitude he hopes students will have if they’re starting their own business.
“Why not right? Now’s the time. You probably don’t have a lot of strings attached as you will in 15, 20 years from now that you’re in school,” said Neblett.
Trans World reported it was interested in buying Etailz because of its data driven approach to online selling: http://www.streetinsider.com/Corporate+News/Trans+World+Entertainment+(TWMC)+Acquires+etailz/12138986.html