Loveseat is an online auction platform specializing in customer-returned furniture and distressed home goods from major retailers and vendors. Founded in 2013 by Chris and Jenny Stanchak as a used furniture marketplace in Southern California, Loveseat pivoted to its current business model in 2020. The company operates an ecommerce site where users can bid on returned and overstock furniture items, typically saving up to 70% off retail prices. Loveseat's inventory is sourced entirely from customer returns and retail overstock, aligning with the company's core value of sustainability by eliminating waste from the supply chain. The platform lists thousands of new items each week, with many starting at USD 10. As of March 2022, Loveseat was operational in Southern California and Austin, with plans to expand to additional markets in Texas, Florida, and the Bay Area.
Key customers and partnerships
Loveseat caters to bargain hunters and auction enthusiasts looking for quality furniture at discounted prices. The company has established partnerships with major retailers and vendors to source its inventory of returned and overstock items. In March 2022, the company secured USD 7 million in Series A funding led by Bessemer Venture Partners, with participation from angel investors Gokul Rajaram, Gabriel Weinberg, and Kal Vepuri.
By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.