GSI Commerce

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GSI Commerce
Type Public (NASDAQ:GSIC)
Founded 1995
Headquarters King of Prussia, Pennsylvania, United States
935 First Avenue
Key people Michael Rubin, CEO/founder
Industry e-Commerce outsourcing
Employees 4,000[1]
Website http://gsicommerce.com

GSI Commerce is an e-commerce company specializing in creating, developing and running online shopping sites for brick and mortar brands and retailers. It contracts with companies such as Zales,[2] iRobot,[3] Hershey's, Palm Inc.,[4] HBO,[5] Timberland, Ace Hardware, Sports Authority, Dick's Sporting Goods, RadioShack,[6] and Toys "R" Us.[7][8]

Originally founded by Michael Rubin in 1995 as Global Sports Incorporated, the company focused on selling sporting goods and supplies.[5] In 1999 it branched out into clothing and a variety of other categories and changed its name to GSI Commerce in 2002.[9] Toys"R"Us, one of GSI's largest e-commerce partners, chose GSI after suing Amazon.com for breach of its exclusivity contract.[6] In October 2000, GSI acquired FogDog.com, an online sporting goods store.[10] In August 2007, GSI acquired Accretive e-Commerce, a company with a similar business model, for $97.5 million.[11] It expanded with the acquisition of Innotrac, a similar e-commerce company with fulfillment centers located throughout the United States.[12]

In September 2008, GSI and Timberland reached a settlement of up to $7,000,000 with a class of cell phone subscribers who alleged that they received unsolicited SMS text messages advertising for Timberland.[13] Both Timberland and GSI have denied any wrongful conduct and state that a completely separate and independent company was responsible for securing the consents of the class members to receive the text messages. The settlement is significant as it is the first nationwide settlement for unsolicited text messages under the Telephone Consumer Protection Act.

References

  1. Yahoo! Finance: GSI Commerce
  2. PR Newswire: Gordon's Jewelers Launches Its First Webstore with E-Commerce Solution Partner GSI Commerce May 11, 2007
  3. PR Newswire: iRobot Selects GSI Commerce for its E-Commerce Solution
  4. Reuters: GSI Corporation key developments
  5. 5.0 5.1 Forbes: America's Youngest CEOs July 6, 2006.
  6. 6.0 6.1 E-Commerce Times: Toys 'R' Us wins right to end amazon partnership., March 3, 2006
  7. The Record: Toys has new Web partners
  8. The Wall Street Journal: Toys 'R' Us Selects Web Sales Partners To Replace Amazon. May 25, 2006.
  9. "A Brief History of GSI Commerce". GSI Commerce. http://www.gsicommerce.com/aboutus/history.jsp. Retrieved 2007-05-13. 
  10. [1]
  11. Tedeschi, Bob. "Late to Web Retailing? There’s Still Money There". New York Times: August 27, 2007.
  12. GSI expanding U.S. reach with Innotrac
  13. Weinstein v. Airit2me, Inc. et al., No. 06-C-0484 (N.D. Ill. 2008)

External links

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