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Wayfair

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http://wayfair.com

Furnishings , Shopping

Steve Conine and Niraj Shah met as high school students attending a summer program at Cornell University. They both went on to study engineering at Cornell and quickly struck up a friendship while they were freshmen living in the same dorm. During their final semester of college, Steve and Niraj both enrolled in a class on entrepreneurism which sparked a business plan that turned into their first company and, ultimately, became the foundation for founding and building several businesses in the technology sector.

In 2002, the duo founded Wayfair on a shoestring budget in a spare bedroom of Steve's house. By carefully analyzing Internet search patterns and results, Steve and Niraj recognized a market opportunity to sell stereo racks and stands online. What would grow to become the largest ecommerce destination for home furnishings and d├ęcor started with just one single website and soon grew to more than 250 standalone sites selling everything from barstools to birdhouses.

In 2011, Steve and Niraj took a giant leap and moved all of their e-commerce sites into one mega destination for the home and named it Wayfair. By the next year, Wayfair had exceeded $600 million in annual revenue and was well on its way to becoming a household name offering millions of products across a wide array of styles and price points. In 2013, Wayfair exceeded $900 million in annual revenue and now offers 7 million products from over 7,000 suppliers across five distinct brands - Wayfair.com, AllModern, Birch Lane, DwellStudio and Joss & Main. Steve and Niraj continue to build Wayfair into their biggest business endeavor yet still innovating every day to create the ultimate home goods shopping experience.

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