Company Poised to Continue Rapid Growth through New Product Initiatives
ALBANY, NY – July 18, 2013 – After successfully building and then selling the company he founded in 1997, Frank Poore has returned to CommerceHub as its Chief Executive Officer.
Poore founded CommerceHub in 1997 with Richard Jones, and served as president and CEO until the company was acquired in 2006 by Liberty Interactive Corporation (Nasdaq: LINTA). After the sale of the company, Poore remained on the board of directors and the company continued to grow.
In response to the rapidly evolving landscape in e-commerce, Poore was asked to rejoin the management team of CommerceHub in 2011 to spur product innovation. Since then he has successfully launched new offerings with significant customer adoption, and assumed the role of CEO upon Steve Hamlin’s retirement in December of 2012.
Liberty Interactive is delighted to have Poore return to the helm of the company he founded. “CommerceHub is a jewel within the Liberty Interactive portfolio with fast growth and an innovative offering for businesses,” said Greg Maffei, president and CEO of Liberty Interactive Corporation. “With Frank’s experience and successful track record, we couldn’t imagine a better leader for CommerceHub’s next phase of growth.”
Poore is also excited by the opportunity. “I rejoined the company because, despite our success, I felt that the original vision was really just getting started,” Poore said. “CommerceHub is a great business that has yet to realize its full potential, and I’m proud to partner with Liberty to transform the company from a technical integrator to an industry-scale merchandising and fulfillment platform.”
As part of this transition, Poore brought back his co-founder and former Chief Technology Officer, Richard Jones, who also left the company when it was sold in 2006. Since his return, Jones has lead new product development efforts. “Richard was the perfect partner when we founded the company years ago. His unique experience and talent once again make him ideal for our growth plans”, said Poore.
“I’m thrilled to work with Frank again on the opportunity to transform the company we started. Few successful founders get to leave, develop an outsider’s perspective and then bring that back into the company,” Jones said.
Since the two founded CommerceHub in 1997, the company has grown to become the retail industry’s leading fulfillment and merchandising platform with the largest integrated network of retailers and suppliers in North America. The company’s cloud–based platform enables retailers to radically increase the number of products they offer without having to take inventory risk through a process known as drop-ship fulfillment. After a customer makes a purchase with a CommerceHub retailer, the order is routed to a network of thousands of suppliers that ship the items directly to the customer.
CommerceHub provides omni-channel merchandising and fulfillment management solutions to the largest retailers, manufacturers and suppliers including QVC, Staples, Home Depot, Kohls, Walmart, JCPenney, Best Buy and many others. Last year alone, CommerceHub processed over 34 million orders that accounted for $5.5 billion in retail sales for its customers. The company is widely recognized throughout the industry as the pioneer and architect of advanced drop-ship fulfillment management. CommerceHub is headquartered in the heart of New York’s Tech Valley.
About Liberty Interactive Corporation
Liberty Interactive (Nasdaq: LINTA, LINTB) operates and owns interests in a broad range of digital commerce businesses consisting of Liberty Interactive Corporation’s subsidiaries QVC, Provide Commerce, Backcountry.com, Bodybuilding.com, Celebrate Interactive, CommerceHub and interests in HSN and Lockerz.
Liberty Interactive Corporation
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