|Headquarters||City of Industry, California, U.S|
|Key people||Tally C. Liu (CEO)
Rich Quiroga (VP Finance)
Bernard Luthi (VP of Marketing and Merchandising)
Michael Amkreutz (VP of Product Management)
Joel Miller (CHRO)
|Products||Computer hardware, software, peripherals, electronics, accessories, apparel, housewares, small appliances|
|Revenue||▲US$2.1 billion (2008)|
|Net income||▲US$28.8 million (2008)|
|Employees||2,000 (2008) |
Newegg.com Inc. is an online retailer of computer hardware and software. It is based in City of Industry, California. Fred Chang, a Taiwanese immigrant, founded the company in 2001. Its slogan is "Once you know, you Newegg." It also operates the NeweggMall website as part of its plans to expand offerings beyond computer hardware. The name means "new beginnings".
Key players in Newegg's design and execution were Fred Chang (then-CEO and Founder), and Ken Lam (Vice Chairman of the Board). In time, ABS Computers reverted to a subsidiary of Newegg. In 2005, Newegg.com was named one of the Internet's Top 10 retailers by Internet Retailer Magazine with 2004 sales revenue of just under $1 billion. Newegg.com grew an additional 30% in 2005, bringing sales to approximately $1.3 billion annually. Newegg launched NeweggMall.com in July 2008, Newegg.ca in October 2008, and Biz.Newegg.com in August 2009.
Newegg also sponsors technology industry events and PC gaming tournaments for titles including Counter-Strike, Warcraft III and Rome: Total War. Newegg had a monthly Case Mod contest in 2005, where contestants submitted pictures, descriptions, and directions describing how to mod their computers into esoteric appearances and functionalities. The contest is currently on hold.
Newegg is one of the highest rated online retailers on ResellerRatings - 9.73/10 six-month rating (30,054 lifetime reviews) putting it in the top ten of over 13,000 stores, as of January 2008. In 2009, it was listed as #234 on the Forbes America's Largest Private Companies list, which estimates its annual revenue at $2.1 billion. The company has about 2,000 employees.
On September 28, 2009, Newegg Inc filed for an IPO (initial public offering) with the U.S. Securities and Exchange Commission. The filing also stated that newegg.com has been profitable every year since 2001 and generated sales of $2.1 billion in 2008. The company's largest shareholder is New York-based venture-capital firm Insight Venture Partners. The IPO is being managed by JP Morgan, Bank of America, Merrill Lynch and Citi.
On February 10, 2010, Newegg was sued by three former employees accusing it of numerous labor and business abuses, such as violating "a slew of labor laws, overwork[ing] and abus[ing] immigrant workers and order[ing] employees to hack into competitors' computer systems."  Newegg strongly denies all the employment lawsuit charges.
In March of 2010, Newegg sold 300 counterfeit Intel Core i7-920 CPUs. The problem was first exposed by a member of the website HardOCP, who posted about receiving the fake CPU on the site's forum. Newegg at first released a statement saying that the processors were "demo units", but later said that they discovered that the processors were actually counterfeit, and that the company was terminating its relationship with one supplier in response. The company offered replacement units to the customers who received a counterfeit processor, while Intel stated that they had been made aware of the problem and were investigating as well.
Traditionally, the egg is a symbol of birth and unlimited potential. The founders selected “Newegg” as the company name to signify new hope for e-commerce during a period when e-commerce businesses were struggling to survive.
Newegg has been the recipient of various awards, including:
|Ranking / Details||Who||When|
|Top 100 Fastest Growing Private Company in Los Angeles||Los Angeles Business Journal||(2006, 2007)|
|Number 1 in Response Time and Consistency, Number 4 in Availability||Gomez.com Business Process Benchmark||(Oct 31, 2007)|
|Tied for 6th place in Top 100 Online Retail Satisfaction Index||Internet Retailer||(2007) Rankings|
|Ranked #1 in Top 10 Best Online Shopping Sites for Women-Getting an Early Start on Cyber Monday||www.sheknows.com||Nov 21,2007|
|Ranks in Top U.S. Online Retailer—Overall #10, Computer/Electronics #5, Internet Only #2||Internet Retailer||(2007)Rankings|
|Ranked 18th Largest Consumer Electronic Dealer||TWICE Magazine,Top 100||(2007)|
|Ranked #11 by Gross Dollar Growth and #17 by Revenue Growth in Inc. 5000 Privately Held Growth Companies||Inc. Magazine||(2007)|
|Ranked #234 in Forbes Largest Private Companies in America||Forbes||10/28/2009|
|Ranked in Top 10 Largest Internet Retailers||Internet Retailer||8/6/2007|
|Inc. Magazine's List of America's 500 Fastest-growing Private Companies||Inc. Magazine||9/20/2006|
|Ranked #10 on Internet Retailer's Top 500||Internet Retailer||7/1/2006|
|Top 100 CE Retailers||TWICE||5/8/2006|
|Ranked #2 Among L.A.'s Largest Minority-Owned Businesses||Los Angeles Business Journal||3/27/2006|
|Ranks In Top 10 Among L.A.'s Fastest Growing Private Companies||Los Angeles Business Journal||11/14/2005|
|Ranks In Top 20 Among L.A.'s Largest Private Companies||Los Angeles Business Journal||10/24/2005|
|Ranked #9 On Internet Retailer's Top 400||Internet Retailer||8/1/2005|