CommerceHub (CHUBA) completed its spinoff from Liberty Interactive (LVNTA) Monday. Frank Poore, CEO of the e-commerce platform, said independence will create a lot change at the company, yet in other respects it will be business as usual.
"We want to continue to execute day-to-day on the strategy we've set forth," said Poore. "But as far as it being a new day, we now have a public currency and we stand on our own."
CommerceHub is a cloud-based commerce network and provider of fulfillment and marketing solutions serving e-commerce supply, demand and delivery needs. They have a growing network 9,500 customers, connecting suppliers and brands with major retailers and channels such as Walmart (WMT) - Get Report, QVC, Amazon (AMZN) - Get Report and eBay (EBAY) - Get Report .
Poore said the company booked about $87 million in sales in 2016. In 2015, the company grew faster organically than the e-commerce market's 15% and customers processed an estimated $11.6 billion of GMV (gross merchandise value) through CommerceHub. According to eMarketer's estimates, U.S. e-commerce could reach $600B by 2019.
CommerceHub makes money through subscription fees it charges both retailers and suppliers, as well as a per order charge for each order going through the system. And while CommerceHub does the bulk of its business with giant stores such as Walmart, Poore said his system is not another nail in the coffin of small retailers.
"We connect all sources of demand with all sources of supply, wherever the inventory might exist," said Poore. "We also connect all sources of delivery so we can orchestrate the entire process."
Finally, Poore said Liberty will continue to be a partner for CommerceHub despite its independence.
John Malone and Greg Maffei "will still own shares as independent Liberty Ventures (LVNTA) shareholders," said Poore. "I'm still going to have a couple of Liberty people on the board so I look forward to their continued guidance."