Stamps.com
 |
|
| Public | |
| Traded as |
NASDAQ: STMP S&P 600 Component |
| Industry | Business Services |
| Founded | 1998 |
| Headquarters | El Segundo, California, U.S. |
|
Key people
|
Jim McDermott, Founder Jeff Green, Founder Ari Engelberg, Founder Ken McBride, Chairman & CEO Kyle Huebner, Co-President & CFO Jim Bortnak, Co-President and Corporate & Business Development Officer |
| Products | Internet postage, Custom postage stamps, Shipping software |
| Revenue |
|
 US$ -4,280,000 |
|
| Total assets |
 US$528,614,000 |
| Website | www.stamps.com |
US$213,957,000
Stamps.com is an American company that provides Internet-based mailing and shipping services. Stamps.com is a public company and trades on the NASDAQ exchange under the symbol STMP. The company's main offices are located in El Segundo, California.
Founded in 1996, Stamps.com was created under the name StampMaster by Jim McDermott, Ari Engelberg and Jeff Green, who at the time were MBA graduate students at UCLA. StampMaster was among the first companies to obtain USPS approval for beta testing and introducing Internet postage to the market. The Postal Service began announcing proposals for digital delivery of postage in 1996.
Stamps.com finished its Series A funding in February 1998 with $1.5 million. Series B funding followed in August 1998 with $4.52 million. It had its last round of private financing in February 1999, generating an additional $30 million from investors including former Postmaster General, Marvin Runyon. The company went public in June of the same year and raised $55 million in its IPO. Less than six months after its IPO, the company had its secondary public offering. In August 1999, the Postal Service granted permission for Stamps.com to sell its service nationally. Stamps.com purchased IShip.com, a company that compared prices of shipping services, for $305 million in stock or eight million shares, in October 1999.
In 2001, Stamps.com named Ken McBride its CEO. The U.S. Postal Service authorized the first market test of PhotoStamps in 2004. In 2005, the company reported $10.4 million in net income. PhotoStamps was re-launched in May 2005 for another year-long test run. The United States Congress amended a law in January 2006 that had prohibited attaching business advertising to postage, effective in May of that year, which cleared the way for businesses to use PhotoStamps. In September 2006, the company launched Photo NetStamps, which combined its previous NetStamps product with PhotoStamps. This combination allowed PhotoStamps to be used with exact postage printed from Stamps.com software. By 2008, Stamps.com had more than 300,000 customers. The company recorded revenues of $38.6 million in 2012.
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Wikipedia