The Verticale, an online marketplace that allows consumers to shop by value, has acquired The Helm Shop's assets and intellectual property.
WHO: Founded in 2019 by Jaclyn Grauman and Michelle Silverstein, The Helm Shop is the e-commerce arm of New York City-based venture firm The Helm, led by Lindsey Taylor Wood and Julie Weber, which is committed to investing in female entrepreneurs. The merchandise reflects its investments, ranging from cleantech and high-speed transportation to women's health care and beauty.
The Verticale was founded in 2019 with the mission to reorient the e-commerce landscape and allow contemporary shoppers who are concerned about social causes to support brands that are trying to create positive change. The Verticale categorizes brands and allows customers to shop by value categories including Responsible Materials, Black-Owned, Reducing Waste, Local Craftsmanship, and Clean Ingredients.
IN THEIR OWN WORDS: "As female founders, the women-owned category on The Verticale is one that's personally important to us. Having seen firsthand how undervalued women are when it comes to venture funding with less than 3 percent of capital going toward women, we are committed to putting an emphasis on women-led brands and giving them the visibility that they deserve," said Grauman.
"By incorporating The Helm Shop's brand partners into The Verticale and bringing on Lindsey and Julie as strategic advisors, we're able to build a strong team and foundation to make change in the industry and continue to strengthen our commitment to supporting and promoting women-owned businesses," added Silverstein.
“People are increasingly recognizing the impact that companies have on society and on the planet, and they want to shop at places where their values and money can align," said Wood, founder and CEO of The Helm. "By partnering with The Verticale, we are joining a larger movement. One that not only offers an alternative to less intentional marketplaces but proves that conscious consumerism provides both social and financial returns for customers and investors alike.”
"We were forced to make some strategic decisions about what the future of the company looked like, and we realized that the places where we were having the greatest impact were really the fund and the angel network, but also that we had built this incredible platform that was seeing a lot of traction and had 100-plus amazing female-founded brands. But to really give it the attention it deserved and to take it to the next stage of growth, it would be better served being part of something larger," she continued
- The Verticale acquired The Helm Shop. The terms and purchase price were not disclosed. The Helm is a shareholder in The Verticale.
- The Women-Owned category, which currently includes 44% of the brands on The Verticale, will now include all the brands that transition from The Helm, positioning the marketplace as a leader in supporting female-founded and operated brands.
- With the acquisition, Wood and Weber will join The Verticale as strategic advisors to help bring more visibility to women-owned brands.
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