Canadian Startup Relocating to New York City
According to a report on Business Insider today, Vancouver's nomorerack.com is setting up shop in New York City. No word on whether their 30 employees will be going with them.
Nomorerack's goal is to become the TJ Maxx of the web by cutting out all the middle men & overhead in between a household product and the consumer. They offer multiple items covering home, electronics, women, men and kids categories on deep discounts every day.
Nomorerack is currently selling 8,000 items a day, 5 items a minute, and already has 4.5 million subscribers and projects doing $100 million in revenue in the coming year.
So why are they moving to NYC? Three reasons according to co-founder Melina Ash:
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