Ron Johnson wins $50m for Enjoy concept
In this article (4)
Former Apple retail chief Ron Johnson’s new project has attracted a $50 million capital investment.
His new venture, Enjoy Technology, is an online eCommerce start-up which sells a selected range of quality consumer electronics online only – then sends them to the purchaser’s home along with an expert in setting the equipment up. The concept merges service and customer focus with the convenience of shopping online.
The $50 million was raised in series B funding led by Highland Capital. It comes on top of the initial $30 million and will be used to expand the concept outside its test markets of New York City and San Francisco Bay.
“Since launching in May, we have been thrilled with the high-quality experiences we’ve been able to deliver for our customers, partners and employees,” said Johnson in a statement.
Questions & Answers
Q.What is Enjoy Technology's core business model?
What is Enjoy Technology's core business model?
Enjoy Technology sells a curated selection of consumer electronics online. After purchase, an expert is dispatched to the customer's home to assist with setting up the equipment, merging online shopping convenience with personalised service and customer focus.
Q.How much capital has Enjoy Technology raised in total?
How much capital has Enjoy Technology raised in total?
The company has secured a total of $80 million in capital investment. This includes the recent $50 million series B funding round led by Highland Capital, which follows an initial investment of $30 million.
Q.Which specific cities are currently serving as test markets for the Enjoy Technology concept?
Which specific cities are currently serving as test markets for the Enjoy Technology concept?
Enjoy Technology has been operating in New York City and the San Francisco Bay area as its initial test markets. The newly raised capital will be utilised to expand the concept beyond these current locations.
Reader pulse
Is this model scalable?
22,278 votes so far