One of the most common problems that e-commerce sites face is their potential customers abandoning the ordering process before fully converting. Fetchback was founded by Chad Little in 2007 to attack this issue head on. The company developed a patent-pending Retargeting technology that helps sites turn former visitors into future customers.
Retargeting is a process that’s both simple to explain and very effective in action. When a customer visits a site without converting, they will then be shown ads for the site on sites they browse elsewhere on the web. This helps increase recognition of the brand and products that the potential customer had already expressed interest in. While the average conversion rate for visitors to e-commerce sites is as low as 1%, using Retargeting through FetchBack can raise that conversion level into the 8-10% range, a staggering success.
FetchBack was funded with an initial $1m investment in January of 2008 from a round led by Metamorphic Ventures. The company became profitable after the initial investment and hasn’t taken on additional funding. The company was purchased by GSI Commerce in June of 2010 for $40million. GSI Commerce was later purchased by eBay for $2.4bn in June of 2011. Now under the eBay umbrella, FetchBack has 100 employees between their headquarters on Mill Ave. and their office in NYC. They are currently hiring for 45 positions and say they can’t fill them up fast enough.
FetchBack provides custom Retargeting solutions for highly successful companies such as NFL.com, 1-800-Flowers.com, Boston Apparel, and loads more. The company offers a free consultation to get a feel for the goals and struggles of each business that they work with. They will then create a custom Retargeting strategy developed to increase the ROI of their client’s online marketing efforts. Each client receives a solution customized to their needs.
More About FetchBack
# of Employees: ~100
Revenues: 2011 revenues are undisclosed due to eBay purchase.
Founders: Chad Little
Blog: Company blog
Headquarters: 100 West University, Suite 101, Tempe, Arizona 85281