Prior to co-founding Iterate, Jon was the founder and 10-year CEO of eBags.com which grew to more than $100 million in revenues, profitably, at a 34% CAGR between 2000 and 2008. eBags was known as an innovator. Between 1999 and 2001, eBags became one of the first retailers to dropship from ~500 3rd party warehouses (1999), run on a negative cash conversion cycle, solicit product reviews from consumers (1999), and test site features using A/B split methods (2000). eBags did 1,000s of experiments as its team systematically created one of the Web's top converting sites before between 2005 and 2008. In 2008 Nielson Reports listed eBags as a retailer with one of America's Top 10 Retail Conversion Rates. eBags also built 6pm.com and sold it to Zappos while running CaseLogic.com and TUMI.com in the US, UK, Germany, and Japan. Prior to being acquired by Samsonite, eBags served more than 40 million shoppers per year. It sold more than $1.65 billion worth of travel products. Between eBags and Iterate, Jon invested in and worked with startups.
Iterate spends a lot of time evaluating startups for partnership and M&A opportunities. WE look at everything from the KPIs each one delivers to their financial situations. As a result, many Iterators come to us after building strong histories working in and with startups.