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Next-Generation Commerce Platform Kite Closes on $200 Million of Equity, Announces Rob Solomon as Co-Founder & CEO

PRIVATEApr 10, 2023

Company

KITE

New YorkOtherInformation TechnologySoftware

Description

Kite, a next-generation commerce company specializing in scaling high-potential brands, announced today that it has closed on a commitment of $200 million in equity from funds managed by Blackstone and founding partner Juxtapose. The company will be led by Rob Solomon, former CEO and Chairman of GoFundMe, who brings over two decades of experience in product and business development, operations management, M&A, and brand launches to his role as Kite Co-Founder and CEO.

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Company Information

Company

KITE

Location

New York, New York, United States

About

Founded by Rob Solomon, Juxtapose, and Blackstone in 2022, Kite is a next-generation commerce company specializing in scaling high-potential brands in partnership with ambitious entrepreneurs. Kite is an "every channel" commerce platform designed to support digital-first consumer product brands in developing the infrastructure and technologies they need to scale their businesses to customers across e-commerce, social, retail, and more. The company aims to leverage AI and the API economy to build a modern technology stack that will drive manufacturing, supply chain, design, and customer acquisition excellence at scale. Through strategic M&A, Kite will take an ambitious, long-term approach to empowering brands by equipping founders with the capital, operational resources, and technology to accelerate the growth of their businesses. Learn more at www.kite.co.

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KITE changed its leadership. Fundz had it the day it was filed, with the decision-maker at the company attached.

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