StackSocial is easing off of its e-commerce site to double down on its native commerce publishing platform.
As part of that effort, the Venice company has rebranded as StackCommerce. The name change was made to make a greater distinction between its StackSocial.com site, which sells tech products, and its growing business of helping online publishers market and monetize content.
Josh Payne, the company’s founder and chief executive, said the decision to rebrand reflects the increasing importance of its native commerce platform, which now generates more than two-thirds of its revenue. Payne declined to share specific numbers but said the company’s yearly revenue was well into eight figures. In its first year after launching in 2011, the company saw its revenue triple. He said it has doubled every year since.
In fact, StackCommerce still has yet to touch its $800,000 seed money.
“We have a lot more than that in the bank,” Payne said, laughing. “For me it’s been really refreshing, that we get to have the autonomy that other companies might not have.”
StackCommerce’s native platform is used by online publishers, including Gawker, AOL and Apple news sites 9 to 5 Mac and Cult of Mac. Through its network of 500 publishing partners, StackCommerce reaches 75 million monthly unique visitors.
StackSocial.com will continue to operate as an online marketplace for tech enthusiasts. The company plans to expand its e-commerce business into other verticals, such as lifestyle, fitness and home, by early next year.
Staff reporter Melissah Yang can be reached at [email protected]. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.