Investment Summary

Great Hill Partners, Battery Ventures and HarbourVest Partners Invest In Wayfair

On June 22, 2011, private equity firms Great Hill Partners, Battery Ventures and HarbourVest Partners invested in e-commerce company Wayfair

Investment Highlights
  • This is Great Hill Partners’ 3rd, Battery Ventures’ 2nd and HarbourVest Partners’ 2nd transaction in the E-Commerce sector.
  • This is Great Hill Partners’ 33rd, Battery Ventures’ 31st and HarbourVest Partners’ 61st transaction in the United States.
  • This is Great Hill Partners’ 2nd, Battery Ventures’ 4th and HarbourVest Partners’ 5th transaction in Massachusetts.
Investment Fate
  • Wayfair went public in 2014.

Investment Summary

Date 2011-06-22
Target Wayfair
Sector E-Commerce
Investor(s) Great Hill Partners
Battery Ventures
HarbourVest Partners
Deal Type Growth Capital

Target

Wayfair

Boston, Massachusetts, United States
Wayfair distribution center in Lancaster, Texas.
Wayfair distribution center in Lancaster, Texas.
Wayfair is an online home goods retailers focused on hard-line specialty categories, such as furniture, home improvement, housewares and office. Wayfair was established in 2002 and is based in Boston, Massachusetts.

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Investor(S) 3

Investor

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 39 of 97
Sector (E-Commerce) 3 of 7
Type (Growth Capital) 9 of 33
State (Massachusetts) 2 of 10
Country (United States) 33 of 81
Year (2011) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-21 LECG

Devon, Pennsylvania, United States

LECG Corp. is a Global expert services and consulting firm providing independent expert testimony, accounting, tax, technology, compensation and benefits, and financial advisory services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-08 BlueSnap

Waltham, Massachusetts, United States

BlueSnap offers SaaS-based global payments, eCommerce, and marketing solutions that enable digital goods and content sellers to market and sell products online to buyers. BlueSnap was founded in 2001 and is based in Waltham, Massachusetts.

Buy $115M
Investor

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 33 of 116
Sector (E-Commerce) 2 of 2
Type (Growth Capital) 11 of 36
State (Massachusetts) 4 of 6
Country (United States) 31 of 77
Year (2011) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-26 FreeScale Semiconductor

Austin, Texas, United States

Freescale Semiconductor, Inc. is a designer and manufacturer of embedded semiconductors for the automotive, consumer, industrial, networking and wireless markets. FreeScale designs, researches and development, manufacturing or sales operations in more than 30 countries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-20 Skullcandy

Park City, Utah, United States

Skullcandy develops, manufactures, and markets wireless and wired headphones and gaming headsets under the Skullcandy and Astro Gaming brands. Skullcandy was founded in 2003 and is based in Park City, Utah.

Sell -
Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


DEAL STATS #
Overall 99 of 222
Sector (E-Commerce) 2 of 4
Type (Growth Capital) 12 of 30
State (Massachusetts) 5 of 9
Country (United States) 61 of 133
Year (2011) 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-26 FreeScale Semiconductor

Austin, Texas, United States

Freescale Semiconductor, Inc. is a designer and manufacturer of embedded semiconductors for the automotive, consumer, industrial, networking and wireless markets. FreeScale designs, researches and development, manufacturing or sales operations in more than 30 countries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-19 Flexera

Itasca, Illinois, United States

Flexera is a provider of strategic software solutions for application usage management. The Company's solutions help clients deliver continuous compliance optimized usage and maximized value to application producers and their customers. Flexera was founded in 1987 and is based in Itasca, Illinois.

Sell $550M