boosted commerce

On today's episode of Office Hours, meet Keith Richman, co-founder of Boosted Commerce, which buys top-rated companies on Amazon and other ecommerce ecosystems and helps take them to their next level.

Boosted is one of many companies Keith has co-founded - so many of them ahead of internet trends. For example, before the ubiquitous PayPal, there was Bill Point, a company Keith co-founded in the late '90s. He says it failed for a couple of reasons. One, it was technically illegal at the time to accept payments for others and two, it was widely rumored that Ebay was going to launch its own version.

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Boosted Commerce, which hunts for top-rated companies on Amazon to buy, is about to go on a massive shopping spree of its own, purchasing 100 consumer packaged goods companies over the next four years with funds from a $87 million raise it announced Thursday.

The company uses its experience and resources to boost already successful Amazon sellers, hence the name. Rather than gamble on unproven concepts or spend hundreds of millions on research and development, as large corporations like Procter and Gamble have traditionally done, Boosted employees scour Amazon looking for companies with top reviews and offer to buy them and close in fewer than 45 days.

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