DOUG MACK, ONE KINGS LANE
Four-year-old One Kings Lane, the home industry’s leading flash-sale site, is on track to surpass $300 million in sales this year.
When chief executive officer Doug Mack joined the company in 2010, a year after the site launched in March 2009, he reframed its mission — instead of being the first to bring the flash-sale business model to all things home-related, he wanted to become the number-one commerce destination for the home. His goal is to reach more than $1 billion in revenue.
Today, the site has nearly eight million members and launches between 2,000 and 3,000 new products a day. In 2011, the site did $100 million in sales, and in 2012 this more than doubled to over $200 million, according to Mack. Mobile as a percentage of revenue is about two times what it was at this time last year, and 28 percent of overall sales and 33 percent of traffic come from a mobile device. From its inception to today, 80 percent of monthly revenues come from repeat shoppers. — Rachel Strugatz