Ordergroove Sees New Business Growth of 152%, Powering Recurring Revenue for Ecommerce and Retail Giants [Yahoo! Finance]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
Company Research
Source: Yahoo! Finance
NEW YORK, April 02, 2024 BUSINESS WIRE Ordergroove , the leading provider of subscription solutions for retailers and brands, today announced 2023 financial results, emphasizing a growing trend of businesses investing in the recurring revenue solution to drive profitable growth. In the year since closing a $100M Series C fundraise, Ordergroove saw new business bookings grow 152%, as major subscription-first brands and fast-growing merchants flocked to the platform to power subscriber experiences. The company has seen a GMV compounded annual growth rate of 55% over the last five years as it now processes billions in subscription sales from leading brands like Petsmart, L'Oreal and Good Ranchers. This new era of commerce, where consumers require convenient, frictionless buying experiences and brands need profitable, reliable revenue, has led to Ordergroove's growth and popularity with more than 11% of adult Americans having had a subscription powered by Ordergroove. Over the last yea
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