Loot Crate
| Company type | Private |
|---|---|
| Industry | Subscription box service, Retail |
| Founded | 2012 |
| Founder | Wes Hartman, Chris Davis, Matthew Arevalo |
| Defunct | 2019 (after bankruptcy filing) |
| Fate | Acquired by Money Chest LLC and rebranded as The Loot Company |
Area served | 10 countries (as of 2014) |
Key people | Wes Hartman (majority shareholder with 57%) |
| Products | Monthly subscription boxes with geek culture and gaming merchandise |
Loot Crate was established in 2012 by Wes Hartman, who owned 57% of the shares, along with Chris Davis and Matthew Arevalo. The service provided monthly subscription boxes filled with merchandise related to geek culture and gaming, with the goal of delivering a "comic-con experience in a box." By 2014, Loot Crate had amassed over 200,000 subscribers spanning 10 different countries.
History
In 2016, Loot Crate achieved the top position on Inc's list of Fastest Growing Private Companies and was featured on Deloitte's Fast 500 North America ranking, highlighting its swift growth.
Nevertheless, on August 12, 2019, the company filed for Chapter 11 bankruptcy protection after incurring debts exceeding $30 million and owing $5.87 million in taxes. Payment processing was halted by credit card companies, leading to layoffs affecting nearly half of the staff. Despite these challenges, Loot Crate intended to continue order fulfillment while pursuing potential buyers.
On October 1, 2019, Money Chest LLC acquired Loot Crate, with significant funding from the National Entertainment Collectibles Association (NECA), and subsequently rebranded the business as The Loot Company.
Crates
Themes for Loot Crate’s monthly boxes varied from 'Invasion' to Anti-Hero and Future. The company collaborated with prominent brands such as DC, Marvel, and Nintendo to offer exclusive items within each crate.
Limited edition crates focused on well-known franchises like Fallout 4 and Mass Effect. Additionally, Loot Crate produced a Loot Anime box containing anime-themed products. In January 2016, they introduced Loot Gaming, a subscription service dedicated to video game-related content, broadening their range of game-centric crates.
Loot Crate also launched a Loot Pets Box designed for cats, dogs, and other animals that aligned with the monthly themes; however, this offering was discontinued in September 2017.