How merging a $2 billion with a $700 million business delivers profits faster.

Peak covid infections combined with peak shutdowns of physical businesses delivered peak e-commerce growth – across the world. 

Now, e-commerce revenue growth has slowed or gone negative, and difficulty accessing new capital raisings for e-commerce stores has made life very difficult for many e-commerce operators. 

Startup businesses often require multi-year capital support; some require multi-decade capital support until their revenue scale and profitability arrive – many fail. 

When capital raisings fall, the result is a merger lift in the overall market and an increase in closing businesses. 

Mergers help get two or more businesses to scale faster, often delivering expense and revenue gains – providing a more straightforward path to profitability – sooner. and are two businesses that found a merger was a better strategic outcome. 

  • Misfits market was valued at $2 billion last year after raising $225 million,
  • Imperfect was worth $700 million after raising $95 million in January 2021,

The two businesses’ purposes share a similar view of sustainability – less food waste. 

The businesses were founded three years apart (Misfits in 2018 and Imperfect in 2015), 

Misfits CEO and founder Abhi Ramesh approached Imperfect – post their review – their team…said, ‘Hey, we agree. 

Imperfect justified the merger on the grounds of 

  • Capital markets are a little bit more challenging these days than they were a year ago, 
  • We see brand alignment, 
  • We get mission alignment, 
  • We see operational similarities and efficiencies,

Today: The two brands will “coexist” in the short term, Ramesh said, and will likely integrate into one brand over the next year.

Operations: will be consolidated more quickly. 

  •  Merge their product assortments, including both companies’ private-label products (Imperfect has 100+ items of its own, and Misfits rolled out its home brand label Odds & Ends in April.)
  • Ramesh will serve as CEO – typically, the more prominent business CEO becomes the new group CEO, with Imperfect CEO Dan Park staying on during the transition.

Scale is critical:  The merger offers “the revenue scale neither business could achieve as a standalone business without more time and capital. The merger expects to deliver profitability in 2024. 

  • Consumer value: expectations are there will be lower prices, 
  • lower free-shipping thresholds,
  • plus a further reduction in packaging use,

Ramesh said – that the online grocery space in the US is “fragmented” with Amazon Fresh, Instacart, and Walmart. 

In Ireland, Instagram fined $402 million

for breaches of privacy laws around the failure to manage children’s data.

Privacy Laws:

  • Ireland’s data privacy regulator tracked business accounts of teenagers on Instagram and saw that the company was making their email addresses and phone numbers publicly available.
  • The investigation began in 2020 and focused on accounts run by 13 to 17-year-olds.
  • The regulator imposed $402 million fines on Instagram ( Meta) for its data privacy practices.

What is Instagram (Meta) doing now?

Instagram disagrees with the size of the fine. Meta Platforms is planning to appeal the file.

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If you have read this far, thank you for your attention. 

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It means a lot. I hope this helped you even a little bit in better making sense of this topic. If so, please, share it with a friend who might also benefit from it. 

Thanks for reading,