NewEgg
 |
|
| Private | |
| Industry |
Computers Computer hardware Computer software Consumer electronics Consumer (final) goods |
| Founded | 2001 |
| Founders | Fred Chang |
| Headquarters | City of Industry, California, U.S. |
|
Key people
|
Fred Chang (global CEO) |
| Products | Computer hardware, software, peripherals, gaming, electronics, accessories, DVDs, housewares, appliances, tools, furniture, office products and more |
| Revenue |
 US$2.58 billion (2015) |
 US$24.9 million (2009) |
|
|
Number of employees
|
2,500 (2015) |
| Website | newegg |
Newegg Inc. is an online retailer of items including computer hardware and consumer electronics. It is based in City of Industry, California, in the United States.
The company was founded by Fred Chang, a U.S. immigrant from Taiwan, in 2001. Chang was Newegg's chairman and CEO until August 1, 2008 when it was announced he would step down as CEO and chairman while remaining a member of the board of directors and executive committee. He was succeeded by Tally Liu. Chang also retained his position as President of Newegg's Chinese operations. In 2010, upon the departure of Liu, Chang took up his old role as CEO of the company.
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 annual sales to approximately $1.3 billion. Newegg launched NeweggMall.com in July 2008, Newegg.ca in October 2008, and NeweggBusiness.com in August 2009. In 2009, it was listed as #234 on the Forbes America's Largest Private Companies list. It launched Newegg Marketplace in 2010 and exceeded $2.5 billion in revenue that year. The company has about 2,500 employees.
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 in which contestants submitted pictures, descriptions, and directions describing how to personalize their computers with esoteric appearances and functions.
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. The company has no relation to the Egghead Software chain that was active from 1984-2001.
On September 28, 2009, Newegg Inc filed for an IPO (initial public offering) with the U.S. Securities and Exchange Commission. The filing stated that Newegg has been profitable every year since 2001 and generated sales of $2.1 billion in 2008. The company's largest outside shareholder is New York-based venture-capital firm Insight Venture Partners. The IPO was managed by JP Morgan, Bank of America, Merrill Lynch and Citi. In 2011, the company withdrew its registration for filing for an IPO, saying it would continue to explore alternative options for funding.
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Wikipedia