Australian e-commerce start-up buyster.com.au has reportedly been bought by Boston, US-based home goods e-tailer Wayfair – formerly CSN Stores – for an undisclosed sum.
Australian e-commerce start-up buyster.com.au has reportedly been bought by Boston, US-based home goods e-tailer Wayfair – formerly CSN Stores – for an undisclosed sum.
Wayfair already owned 50 percent of Buyster, but has now purchased the remaining 50 percent stake from the Rupert Murdoch-backed technology investment company Netus, headed by former Microsoft Australia boss Daniel Petre.
The US company, stoked by US$165 million in institutional funding in June, plans to expand Buyster’s Down Under operations, it said in a media release.
“We see Buyster giving local, selection-seeking consumers of home goods the answer they’ve been looking for, eliminating the need to tap online outlets outside of Australia for home goods,” said Wayfair CEO Niraj Shah.
Buyster currently offers more than 35,000 items from 600 brands, according to MD Kylie Little. “We’re selling many different styles of furniture for every room in the house, as well as lighting, rugs, items for pets, and most recently, plumbing,” he said. Little expects more categories will be added following the Wayfair takeover.
