This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CSN Stores Raises $165 Million "First Round" To Expedite Expansion & Bolster Branding

BOSTON, June 22, 2011 /PRNewswire/ -- CSN Stores (, one of the largest online retailers of housewares and home furnishings in the U.S., announced today that it has raised $165 million in funding from four investment firms to increase its ongoing expansion both internationally and in the U.S., target appropriate acquisitions, and drive extensive marketing around a new brand launching later this summer, ( This is the first time that CSN Stores has raised institutional funding in its nine-year history and this funding amount is one of the largest investment rounds reported for any online company so far in 2011.

CSN's new team of investors include Battery Ventures, Great Hill Partners, HarbourVest Partners, and Spark Capital, well-known venture capital and private equity firms that have supported Groupon, Twitter, Akamai, Angie's List, IGN Entertainment, Tumblr and BuscaPe among others.

"We've grown profitably every year since 2002 and have continued to aggressively reinvest in the business, but with our new group of advisors and this infusion of funding, we have plans to grow even more quickly," said Niraj Shah, CSN's CEO and co-founder. "Our emerging international businesses will see more resources, and we'll be investing in a major consumer brand launch. Looking ahead four or five years, we think with the help of our investors, we are on the path to becoming a much-larger, publicly-traded company."

CSN Stores, which jumped 50 percent in sales from 2009 to 2010, and which is growing again at over 50 percent in 2011, expects to well surpass the $500 million dollar mark this year.  Its sales were up by 56 percent in Q1, 2011, compared to Q1, 2010.

"Why is CSN Stores so successful, even in a challenging economy?" asked Alex Finkelstein, General Partner at Spark Capital. "CSN enables its customers to quickly find the exact item they are looking for at a competitive price and have it delivered to their doorstep within a few days. That's a simple but very valuable part of the CSN equation. In our view, CSN is unique in its ability to deliver this valuable customer experience across a wide selection of products."

Neeraj Agrawal, General Partner at Battery Ventures said that CSN's focus on customer experience was one of the aspects that attracted him to invest in the company. "I've had my eye on CSN Stores since the time Niraj and Steve started it. We think it's a well-run company that's poised to use this large investment to attract more customers, drive more growth and build a strong consumer brand."  

CSN attracts more than 100 million visits annually and offers more than 3 million items from 5,000 brands. Among its 200+ sites are,, and In order to further its position as a leading online retailer for the home, CSN plans to consolidate these sites into one, all-encompassing brand that "has it all for the home" --

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.17 -0.48%
FB $118.10 0.03%
GOOG $699.13 0.49%
TSLA $213.65 -4.00%
YHOO $37.14 3.20%


Chart of I:DJI
DOW 17,700.50 +49.24 0.28%
S&P 500 2,053.78 +2.66 0.13%
NASDAQ 4,725.5250 -0.1140 -0.00%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs