Faire, a 2-year-old wholesale marketplace that helps mom-and-pop stores discover and stock new products, has raised $150 million in a new funding round that gives it a $1 billion valuation
... [+]Faire, a two-year-old wholesale marketplace that helps mom-and-pop stores discover and stock new products, has raised $150 million in a new funding round that gives it a $1 billion valuation.
“This is one of the reasons why I say the future of retail is local. People really prefer to shop from their own community,” said cofounder and CEO Max Rhodes in a recent interview. “Raising money is sometimes mistaken for success,” wrote Rhodes in a Medium post on Wednesday. “Our success will look like more diversity in local communities —special and unique downtowns where people can discover high-quality items sold in stores owned by their neighbors.”
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