Hilco Streambank is seeking offers to acquire the software platform and intangible assets of Packable Holdings, an e-commerce marketplace enablement platform currently operating as a debtor in possession in a pending Chapter 11 bankruptcy case. Bids are due on or before Nov. 14. Hilco Streambank will conduct an auction on Nov. 16.
The company’s software platform has enabled more than 75 million transactions on eight marketplaces, including Amazon, Walmart, eBay and Target, generating approximately 2 million reviews across all marketplaces and more than $425 million in revenue in 2021.
Packable built its operations around its proprietary software platform, dubbed the “Brain.” Developed in-house, the platform provides integrated, automated e-commerce services such as inventory onboarding, data flow management, shipping and vendor management, algorithmic pricing, product bundling, data analytics and fulfillment. At its peak, the Brain facilitated more than 1.8 million orders per month across more than 31,000 SKUs.
Packable invested in more than two dozen digitally native emerging brands and its positions in these companies are also available for sale.
“There is a tremendous amount of competition in the e-commerce ecosystem, particularly in attempting to achieve a cost-effective and scalable, data-driven edge against competition across multiple online marketplaces,” Richelle Kalnit, senior vice president of Hilco Streambank, said. “Packable’s integrated, multiplatform software solution provides the possibility to achieve that competitive edge and would enable a multi-marketplace brand or distributor to quickly jump ahead of its competition in the market. Packable’s interest in numerous companies owning digitally native brands should also be of interest to brand aggregators, as these brands are well-positioned on Amazon and other marketplaces.”
Available assets include Packable’s software platform, trademarks, domain names, majority interests in two consumer products brands and minority interests in more than 20 emerging, digitally native brands. The company also is currently selling other assets, including inventory, FF&E and its interests in its distribution centers.
