Spring (application)

{{Infobox company

| name = Spring

| logo =

| type = Private

| predecessor =

| successor =

| founded = {{Start date and age|2013}}

| defunct = {{End date|2019}}

| fate =

| hq_location_city = New York City

| hq_location_country =

| area_served =

| key_people =

| industry = M-commerce E-commerce, Retail

| products =

| owner =

| num_employees =

| num_employees_year =

| parent =

| website = {{URL|https://www.shopspring.com/}}

| founders = Alan Tisch, Ara Katz, David Tisch, Octavian Costache

}}

Spring was an E-commerce platform that connected retailers and shoppers using a direct-to-consumer sales model.{{cite web|url=http://bits.blogs.nytimes.com/2014/08/14/spring-an-e-commerce-start-up-aims-at-mobile-shopping/?_r=0|title=Spring, An E-Commerce Start-Up, Aims at Mobile Shopping|last=Isaac|first=Mike|date=August 14, 2014|work=The New York Times}} The company, headquartered in New York City, launched its mobile marketplace on August 14, 2014.{{cite web|url=http://fashionista.com/2014/09/spring-shopping-app-review|title=Spring: What's Working- And What Isn't- Six Weeks In|last=Sherman|first=Lauren|date=September 30, 2014|publisher=Fashionista}} It raised over $30 million in venture funding by 2015.{{cite web|url=http://www.businessinsider.com/spring-shopping-app-raises-25-million-2015-4|title=Swipe-To-Buy App Spring Raises $25 Million to Become the First Big Mobile Shopping Mall|last=Shontell|first=Alyson|date=April 16, 2016|publisher=Business Insider}} The platform was recognized by Apple as one of the Best apps of 2014.{{cite web|url=https://time.com/3623190/apple-best-apps-iphone/|title=Apple Says These Are the Best Apps of 2014|last=Fitzpatrick|first=Alex|date=December 8, 2014|publisher=Time}} In October 2018, the membership service ShopRunner announced the acquisition of Spring{{Cite web|title=Confirmed: ShopRunner acquires Spring, raises $40M|url=https://techcrunch.com/2018/10/25/can-shoprunner-compete-with-amazon-sam-yagan-wants-to-find-out/|access-date=2020-07-15|website=TechCrunch|language=en-US}} and closed the platform in 2019.{{Cite web|first=Stephanie|last=Crets|date=2019-05-15|title=ShopRunner dives deeper into marketplace offerings after Spring acquisition|url=https://www.digitalcommerce360.com/2019/05/15/shoprunner-is-shuttering-its-spring-marketplace-app/|access-date=2020-07-15|website=Digital Commerce 360|language=en-US}}

History

Spring was founded in 2013 by the brothers Alan and David Tisch, former Google employees, Octavian Costache, and Ara Katz. The company originally operated as Jello Labs, and announced the name change to Spring in July 2014 when it raised $7.5 million in Series A round funding led by Thrive Capital.{{cite web|url=http://fortune.com/2014/07/09/david-alan-tisch-raise-7-million-spring-startup/|title=David and Alan Tisch Raise $7.5 Million For Stealthy Mobile Shopping Startup Spring|last=Griffith|first=Erin|date=July 9, 2014|publisher=Fortune}}{{cite web|url=https://techcrunch.com/2014/07/09/david-tischs-stealthy-mobile-commerce-product-spring-closes-7-5m-series-a/|title=David Tich's Stealthy Mobile Commerce Product, Spring, Closes $7.5M Series A|last=Crook|first=Jordan|date=July 9, 2014|publisher=TechCrunch}} The company chose the name Spring to mirror the shopping area on Spring Street in SoHo, Manhattan.{{cite web|url=https://www.forbes.com/sites/alexkonrad/2014/08/14/how-david-tischs-new-app-spring-looks-to-crack-mobile-shopping/#5bfc89ecb31c|title=Quick Purchases, Sleek Brands, No Social: How New App Spring Looks to Crack Mobile Shopping|last=Konrad|first=Alex|date=August 14, 2014|work=Forbes}} The app was officially launched on August 14, 2014, with 250 brands selling their products on the iPhone-based platform.{{cite web|url=http://www.vogue.com/972293/spring-app-changes-mobile-shopping/|title=This App Will Change the Way You Shop Forever|last=Macon|first=Alexandra|date=August 14, 2014|publisher=Vogue}} In April 2015, Spring raised $25 million in a Series B round of venture funding led by Box Group that included Yuri Milner, Google Ventures and Thrive Capital.{{cite web|url=http://fashionista.com/2015/04/spring-series-b|title=Spring Raises $25 Million To Grow Its Mobile Shopping App|last=Brooke|first=Eliza|date=April 16, 2015|publisher=Fashionista}} Spring launched a desktop version of the shopping platform in November 2015.{{cite web|url=http://fashionista.com/2015/11/spring-app-brands|title=Shopping App Spring Proves To Be An Inexpensive Asset For Young Brands|last=Brooke|first=Eliza|date=November 24, 2015|publisher=Fashionista}}{{cite web|url=https://techcrunch.com/2015/04/16/spring-the-shoppable-instagram-closes-25m-in-series-b/|title=Spring, The Shoppable Instagram, Closes $25 M In Series B|last=Crook|first=Jordan|date=April 16, 2015|publisher=TechCrunch}}

In March 2016, Spring launched a "personal shopping assistant" on Facebook's bot store.{{cite web|url=https://www.forbes.com/sites/rachelarthur/2016/04/12/shopping-start-up-spring-launches-one-of-first-bots-on-facebook-messenger/#4d2192fe4ee7|title=Shopping Startup Spring Launches One Of First Bots On Facebook Messenger|last=Arthur|first=Rachel|date=April 12, 2016|work=Forbes}} In December 2016, Spring had 1,300 brands on the platform including Marc Jacobs, Helmut Lang and Coach. Spring raised $65 million in a Series C round of venture funding led by Fidelity Investments that included previous investors in May 2017.{{cite web|url=https://www.bizjournals.com/newyork/news/2017/05/11/spring-seals-new-funding-deal-from-fidelity.html|title=Spring Seals New Funding Deal From Fidelity, Kushner's Thrive Capital and Others|publisher=New York Business Journal|first=Anthony |last=Noto|date=May 11, 2017|access-date=August 12, 2017}} As of May 2017, Spring sold items from over 1,500 retail brands{{cite web|last=Del Rey|first=Jason|date=May 11, 2017|title=Fidelity is Betting $65 Million That The Spring App Can Be A Department Store of the Future|url=https://www.recode.net/2017/5/11/15616956/spring-fidelity-funding-investing-65-million-clothing-shopping-app|access-date=August 12, 2017|publisher=Recode}}{{cite web|last=McDowell|first=Maghan|date=December 5, 2016|title=Why Spring is a Tech Company in the Fashion Space|url=http://wwd.com/business-news/retail/spring-fashion-app-technology-mobile-commerce-10699002/|publisher=WWD}} and had a gross value of over $100 million.{{Cite web|date=2018-10-05|title=Hyped Shopping App Spring Is About to Be Acquired|url=https://www.businessoffashion.com/articles/news-analysis/hyped-shopping-app-spring-is-about-to-be-acquired|access-date=2020-07-15|website=The Business of Fashion|language=en-GB}}

Operations

Spring was launched using a mobile first or m-commerce strategy and the company operated without a website until 2015. It did not stock any inventory directly, and instead used a drop shipping methodology to fulfill orders.{{cite web|url=http://mashable.com/2016/06/07/spring-app-relaunch/#z5m.0QHhPiqB|title=Shopping App Spring's Redesign Could be a Game-Changer|last=Yi|first=David|date=June 7, 2016|publisher=Mashable}} The site also curated personalized collections and offered users brand recommendations.{{cite web|url=http://tech.co/retail-startups-changing-shop-2016-09|title=7 Retail Startups Changing the Way We Shop|last=Reynolds|first=Cormac|date=September 16, 2016|publisher=Tech.co}}

References

Category:Privately held companies based in New York City

Category:Software companies based in New York City

Category:Software companies established in 2014

Category:Retail companies established in 2014

Category:Internet properties established in 2014

Category:Online retailers of the United States

Category:2014 in New York City

Category:2014 establishments in New York City

Category:American companies established in 2014

Category:Defunct software companies of the United States