Temple & Webster in capital raising
Online homewares and furniture retailer, Temple & Webster, is planning to sell a major stake in the business in a bid to boost revenue.
According to the Australian Financial Review, the owners of the subscription-based e-tailer hope the sale will attract a cash injection that will boost revenue to $150 million a year.
Founded in 2011 by Brian Shanahan, Conrad Yiu, Mark Coulter, and Adam McWhinney; Temple & Webster, which is also backed by Macquarie Capital, has become one of the top performing online-only homewares retailers in Australia, with revenue of $32 million forecast for fiscal year 2015 and more than 100,000 customers.
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