Newegg

From Wikipedia, the free encyclopedia

  (Redirected from ABS Computer Technologies)
Jump to: navigation, search
Newegg.com Inc.
Type Private
Founded 2001 (2001)
Headquarters City of Industry, California, U.S
Key people Tally C. Liu (CEO)
Rich Quiroga (CFO)
Bernard Luthi (VP of Marketing and Merchandising)
Michael Amkreutz (VP of Product Management)
Joel Miller (CHRO)
Industry Computer software
Computer hardware
Products Computer hardware, software, peripherals, electronics, accessories, apparel, housewares, small appliances
Revenue ▲US$2.1 billion (2008)[1][2]
Net income ▲US$28.8 million (2008)[3]
Employees 2,000 (2008) [2]
Website www.newegg.com

Newegg.com Inc. is an online retailer of computer hardware and software. It is based in City of Industry, California. Fred Chang, a Taiwanese immigrant, founded the company in 2001.[4] Its slogan is "Once you know, you Newegg."[5] It also operates the NeweggMall website as part of its plans to expand offerings beyond computer hardware. The name means "new beginnings".[6]

Contents

[edit] History

Founded in 2001, Newegg was originally a subsidiary of ABS Computer Technologies, Inc., a computer systems integrator that has operated from Whittier, California since 1991. Newegg was conceptualized when ABS executives recognized an increased need to offer services for the "do it yourself" customer. ABS was turning down numerous requests for upgrade components to their existing ABS PCs as an alternative to purchasing a new PC.[citation needed] Key players in Newegg's design and execution were then-CEO and Founder Fred Chang, and Vice Chairman of the Board Ken Lam. In time, ABS Computers reverted to a subsidiary of Newegg.[7]

In 2005, Newegg.com was named one of the Internet's Top 10 retailers by Internet Retailer Magazine with 2004 sales revenue of just under $1 billion. Newegg.com grew an additional 30% in 2005, bringing sales to approximately $1.3 billion annually.

Newegg also sponsors technology industry events and PC gaming tournaments for titles including Counter-Strike, Warcraft III and Rome: Total War. Newegg had a monthly Case Mod contest in 2005, where contestants submitted pictures, descriptions, and directions describing how to mod their computers into esoteric appearances and functionalities. The contest is currently on hold.

Newegg is one of the highest rated online retailers on ResellerRatings - 9.73/10 six-month rating (30,054 lifetime reviews)[8] putting it in the top ten[9] of over 13,000 stores, as of January 2008. In 2009, it was listed as #234 on the Forbes America's Largest Private Companies list,[2] which estimates its annual revenue at $2.1 billion. The company has about 2,000 employees.

During April 2007, Newegg launched the community support forum EggXpert.com. The forum is dedicated to helping Newegg customers with technical support. The forum is also key to helping people plan out their custom personal computer builds. The forum has an area where you can report a Newegg.com and Newegg.ca shopping experience publicly and those having order-related troubles are taken care of by Newegg Staff. Technical Support is provided by community members and volunteer moderators.[citation needed]

Newegg launched NeweggMall.com in July 2008, Newegg.ca in October 2008, and Biz.Newegg.com in August 2009.

On September 28, 2009, Newegg Inc filed for an IPO (initial public offering) with the U.S. Securities and Exchange Commission. The filing also stated that newegg.com has been profitable every year since 2001 and generated sales of $2.1 billion in 2008. The company's largest shareholder is New York-based venture-capital firm Insight Venture Partners. The IPO is being managed by JP Morgan, Bank of America Merrill Lynch and Citi. [10]

[edit] Storefronts

  • Newegg.com — principal site, for United States customers
  • Newegg.ca — for Canadian customers
  • Biz.Newegg.com — for corporations, resellers, schools and non-profit organizations.
  • Newegg.com.cn — for Chinese customers
  • NeweggMall.com — U.S. website with other third party vendors
  • ChiefValue.com — a sister website of Newegg.com which contains mainly computer products
  • ABS.com — System builder owned by Newegg
  • Rosewill.com — Newegg product brand

[edit] Name

Traditionally, the egg is a symbol of birth and unlimited potential. The founders selected “Newegg” as the company name to signify new hope for e-commerce during a period when e-commerce businesses were struggling to survive.[11]

[edit] Awards

Newegg has been the recipient of various awards, including:

[edit] Rankings

Ranking / Details Who When
Top 100 Fastest Growing Private Company in Los Angeles Los Angeles Business Journal (2006, 2007)
Number 1 in Response Time and Consistency, Number 4 in Availability Gomez.com Business Process Benchmark (Oct 31, 2007)
Tied for 6th place in Top 100 Online Retail Satisfaction Index Internet Retailer (2007) Rankings
Ranked #1 in Top 10 Best Online Shopping Sites for Women-Getting an Early Start on Cyber Monday www.sheknows.com Nov 21,2007
Ranks in Top U.S. Online Retailer—Overall #10, Computer/Electronics #5, Internet Only #2 Internet Retailer (2007)Rankings
Ranked 18th Largest Consumer Electronic Dealer TWICE Magazine,Top 100 (2007)
Ranked #11 by Gross Dollar Growth and #17 by Revenue Growth in Inc. 5000 Privately Held Growth Companies Inc. Magazine (2007)
Ranked #234 in Forbes Largest Private Companies in America[2] Forbes 10/28/2009
Ranked in Top 10 Largest Internet Retailers Internet Retailer[15] 8/6/2007
Inc. Magazine's List of America's 500 Fastest-growing Private Companies Inc. Magazine 9/20/2006
Ranked #10 on Internet Retailer's Top 500 Internet Retailer 7/1/2006
Top 100 CE Retailers TWICE 5/8/2006
Ranked #2 Among L.A.'s Largest Minority-Owned Businesses Los Angeles Business Journal 3/27/2006
Ranks In Top 10 Among L.A.'s Fastest Growing Private Companies Los Angeles Business Journal 11/14/2005
Ranks In Top 20 Among L.A.'s Largest Private Companies Los Angeles Business Journal 10/24/2005
Ranked #9 On Internet Retailer's Top 400 Internet Retailer 8/1/2005

[edit] References

  1. ^ http://www.newegg.com/Info/FactSheet.aspx
  2. ^ a b c d [www.forbes.com/lists/2009/21/private-companies-09_Neweggcom_GPM6.html #234 Newegg.com]
  3. ^ http://www.sec.gov/Archives/edgar/data/1341704/000119312509198581/ds1.htm
  4. ^ "Branching out from techie heaven". LA Times. http://articles.latimes.com/2007/dec/29/business/fi-newegg29. Retrieved 2008-11-21. 
  5. ^ "About Us". Newegg.com. http://www.newegg.com/CustomerService/AboutUs.asp. Retrieved 2006-12-22. 
  6. ^ "Twitter / Newegg (Official)". Twitter.com. http://twitter.com/Newegg/status/2918527935. Retrieved 2009-07-29. 
  7. ^ Hesseldahl, Arik (2005-11-18). "Where the Tech Buffs Shop". BusinessWeek. http://yahoo.businessweek.com/technology/content/nov2005/tc20051118_333155.htm. Retrieved 2006-12-22. 
  8. ^ "Newegg.com Customer Ratings, Reviews and Prices". ResellerRatings.com. 2009-11-30. http://www.resellerratings.com/store/Newegg. Retrieved 2009-30-30. 
  9. ^ "Highest Rated Stores". ResellerRatings.com. 2008-01-09. http://www.resellerratings.com/topstores.pl. Retrieved 2008-01-09. 
  10. ^ "UPDATE 1-Venture-owned e-commerce co Newegg files for IPO". http://www.reuters.com/article/marketsNews/idUSN288093020090928. 
  11. ^ "New Egg Website". http://www.newegg.com/Info/AboutUs.aspx. Retrieved 2009-12-15. 
  12. ^ "22nd Annual Shoppers' Choice Awards". Computer Shopper (US magazine). http://computershopper.com/feature/22nd-annual-shoppers-choice-awards8. Retrieved 2008-12-06. 
  13. ^ "21st Annual Shoppers' Choice Awards". Computer Shopper (US magazine). http://computershopper.com/feature/2007-21st-annual-shoppers-choice-awards-best-places-to-buy. Retrieved 2008-12-06. 
  14. ^ "Forbes.com Best of The Web". Forbes.com. http://www.forbes.com/bow/b2c/category.jhtml?id=10. Retrieved 2008-12-06. 
  15. ^ "Newegg Among Top 10 Largest Internet Retailers". http://www.internetretailer.com/top500/list.asp. 

[edit] External links

Retrieved from "http://en.wikipedia.org/wiki/Newegg"
Languages