Spring (application)
| Company type | Private |
|---|---|
| Industry | E-commerce |
| Founded | 2013 |
| Founder | Alan Tisch, David Tisch, Octavian Costache, Ara Katz |
| Defunct | 2019 |
| Fate | Acquired by ShopRunner and discontinued |
| Headquarters | New York City , United States |
Area served | United States |
| Products | Mobile marketplace, personal shopping assistant |
Spring functioned as an E-commerce platform that linked shoppers directly with retailers through a direct-to-consumer approach. Based in New York City, it debuted its mobile marketplace on August 14, 2014. By the year 2015, Spring had accumulated more than $30 million in venture capital. The platform earned recognition from Apple as one of the top applications of 2014. In October 2018, the membership-based service ShopRunner acquired Spring and subsequently discontinued the platform in 2019.
History
The inception of Spring occurred in 2013, founded by brothers Alan and David Tisch, who previously worked at Google, alongside Octavian Costache and Ara Katz. Initially named Jello Labs, the company rebranded to Spring in July 2014 after securing $7.5 million in Series A funding spearheaded by Thrive Capital. The new name was inspired by the shopping district on Spring Street in SoHo, Manhattan. At launch, the iPhone app featured 250 brands. By April 2015, Spring raised $25 million in Series B financing led by Box Group, with investors including Yuri Milner, Google Ventures, and Thrive Capital. A desktop version was introduced in November 2015.
In March 2016, Spring unveiled a "personal shopping assistant" accessible through Facebook's bot store. By December of that year, the platform showcased 1,300 brands such as Marc Jacobs, Helmut Lang, and Coach. In May 2017, it secured $65 million in Series C funding led by Fidelity Investments, alongside previous backers. During this period, Spring offered merchandise from over 1,500 retail brands and reported a gross merchandise value surpassing $100 million.
Operations
Spring adopted a mobile-first m-commerce strategy at launch and did not operate a website until 2015. Utilizing a drop shipping approach, the company avoided holding inventory directly and concentrated on delivering curated personalized collections and brand suggestions to improve the shopper experience.