Newegg bought: Electronics Retailer Newegg Goes Public

Electronics Retailer Newegg Goes Public

-Advertisement-

May 30, 2021

1074

Newegg Inc., a City of Industry-based electronics retailer, has gone public via a reverse merger with a publicly traded sister company, Lianluo Smart Ltd. in Beijing.

The new entity now goes by Newegg Commerce Inc., and its shares began trading on the Nasdaq on May 20 under the symbol NEGG.

Beijing-based Hangzhou Lianluo Interactive Technology Co. Ltd. acquired a controlling interest in Lianluo in 2016. A year later its subsidiary Digital Grid acquired Newegg for $442 million.

Newegg board member Zhitao He has a controlling interest in both Digital Grid and Hangzhou, as well as a 61% stake in Newegg Commerce. Fred Chang, who founded Newegg in 2001, retained 36% of the company, according to documents filed with the Securities and Exchange Commission. As of end of trading May 25, Newegg had a market cap of $3.9 billion.

“Becoming a public company is a milestone 20-plus years in the making, made possible by the hard work of Newegg’s employees and the support of our many partners, investors and customers,” Newegg Chief Executive Anthony Chow said in a statement. “As we enter this new phase as a public company, we’re more energized than ever about what the future holds for our company.”

The shareholder prospectus filed by Newegg’s owner with the SEC shows the ecommerce retailer posted a net income of $30.4 million on $2.1 billion in net revenue last year. It anticipates a 7.1% increase in sales to $2.25 billion and a net income of about $26 million for 2021. In 2018 and 2019, the company posted net losses of $33.6 million and $17 million, on $2 billion and $1.5 billion in sales, respectively.

Newegg sources merchandise — mostly desktop computers, laptops and accessories — from more than 2,000 brands, including Asus, HP, Lenovo, Dell, Acer, Microsoft, Samsung, LG, Gigabyte and Westinghouse. It has about 36 million registered customers, of which 4.7 million have purchased at least one item from Newegg in the past 12 months.

The company also caters to 610,000 registered business clients, such as health care providers, educational institutions and government agencies, and various small and mid-sized businesses.

In addition to direct sales, the company has set up Newegg Marketplace, where third-party sellers offer their products to the company’s customers and pay commissions on their sales.

It also sells products under in-house label Rosewill that are primarily focused around categories where Newegg can compete at higher-than-average margins. Rosewill products are also sold at Walmart, and on Amazon and eBay.

Newegg ended 2020 with 1,789 full-time employees. Approximately 55% are in United States, 37% are in China, 7% are in Taiwan and 2% are in Canada.

The company operates eight fulfillment centers — seven warehouses in North America and one in China — covering more than 1. 5 million square feet. The geographical placement of the warehouses enables the ecommerce retailer to reach 95% of the North American population in two business days.

Fulfillment for its vendors accounted for approximately 7.7% of direct sales in 2020.

-Advertisement-

Why my company stopped using Newegg : Newegg

I Figure this is as good a place to post this as any.

My company has been using Newegg for probably 15 years at least. When I first started and was working off of a couch in a friends house and buying a stick of memory for a client was a *big* deal Newegg was my go-to supplier. I could get things a lot cheaper from them than the local BestBuy and that let me make a tiny profit on items. I loved Newegg and would tell anyone I could to use them. I distinctly even remember a conversation several years ago with my dad telling him that if Newegg ever went public that he should buy as much stock as he could because they were a company that was doing EVERYTHING right. Over the last 15 years If I had to guess I would say we have spent somewhere between $4 and $5 million on the Newegg platform.

But Newegg started to change, slowly and not for the better. They started letting third party merchants onto their platform. Which is not a big deal but it seemed like the quality controls weren’t there. We would have orders that were delayed or problematic for various reasons. We would have people listing things on Newegg that they didn’t actually have in stock that they were drop-shipping, Third party sellers were listing things that were being shipped from China and it would take weeks to get our orders. It was getting harder to buy anything in significant quantities from Newegg itself. ………

Today Newegg has some of the worst sellers on any marketplace. There are tons of companies selling used goods as new all day long. People who are buying stuff off the dell /hp returned outlet marking it a «modified» or «upgraded» and listing it as new. These are machines that have been sent back for some reason. Sure some of them are fine but if I wanted to buy used I would have clicked that box. Newegg support isn’t helpful, doesn’t care and will let literally anyone sign up for their platform with next to no proof that they are in fact a legitimate company. We have dealt with extremely unprofessional sellers, (like harassed us if we left a bad review, called in the middle of the night etc) They have no quality control on their marketplace sellers at all. These people are using their platform to rip people off every single day.

For several months now every single time our purchaser goes to buy something she has to click through a stupid square trade window. I know this is a stupid thing to be the final straw but it is just the attitude of hey, we are going to make it take a little longer to buy and you have to pay slightly more attention in the hopes that we can fool you into buying some other thing you do not ever want. It’s the «did you remember to double check that you are buying from Newegg direct instead of China this time. «Oh you forgot on one order out of 10 today?» Well now you have an hours long project to go fix. It’s just sort of an attitude of «ok lets see how we can squeeze yet another dollar out»

Anyway, this is just a little rant I guess but I am hoping the feedback gets heard by someone so they know why we have taken all of our business to D&H in the past few months. It’s really a shame too because we used to love this platform.

Faberge egg jewelry

Amberholl — sapsana

Affordable imperial luxury in the form of Faberge eggs

When we hear the words «Faberge» and «egg», images of exquisite imperial gifts presented by the last two emperors of Russia to their spouses emerge in our minds.
Such unusual and luxurious gifts every year became the main intrigue of the royal court. Each egg created for the Imperial family was a true work of art that delights to this day. For several years, the «king of jewelers» Faberge created a unique egg for the Emperor — an unsurpassed and unique jewelry masterpiece. Throughout history, the House of Faberge has created 72 eggs, 11 of which have been lost without a trace to date. But, in 2014, the whole world spread the news about the incredible discovery of another imperial Faberge egg.

52 eggs were ordered by the imperial family, the rest were created for private buyers, for example, one of them was the entrepreneur Kelch, Faberge made seven eggs for him.

ROMANOV

in 2014, the news of the incredible discovery of another imperial Faberge egg spread all over the world. READ

Giving Easter eggs for Easter is a long tradition in Rus’, now mostly lost.
Throughout the centuries of human history, in many cultures, the egg has been a powerful symbol of rebirth and new life, especially in spring, when the sun returns and nature awakens from its long winter sleep.
The egg adopted by Christianity has become a symbol of the Resurrection of Christ on Easter Sunday. Treating an egg, Christians confirmed their faith in the miracle of the resurrection of Christ.

Perhaps one of the most charming traditions of these holidays was the collection of egg pendants. From the first birthday, every year before Easter, the girl was presented with an egg pendant, which was worn on a small thread, the forerunner of the modern charm bracelet.

Every year the lace with charms in the form of miniature eggs became richer by one testicle, becoming a kind of chronicle of lived years and memories.
After marriage, a young woman would often add a separate cord to separate the pendants her husband had given her in their new life together.

This egg necklace could be worn from Easter Sunday to Ascension Day.

BUY ON SAPSANA

ROMANOV

-10% discount

sapsana.ru using promo code «AMBERHOLL»

for collection Romanov

BUY ON SAPSANA

Do you know that the philosophy of the Faberge Jewelry House was accessibility?

Surprisingly, both a royal person and a merchant’s daughter could become the owner of creations with the Faberge stamp. The most popular model among fashionistas were pendant eggs.
Miniatures of the famous Faberge eggs were sold for the price of a chocolate cake. Small, plump, multi-colored enamel pendants flew around St. Petersburg.

ROMANOV

BUY ON SAPSANA

Maria Fyodorovna’s brooch

Eggs could also be included in brooches, such as the golden brooch No. 2930, resembling a wheat pretzel, adorned with a miniature egg with guilloché enamel by Faberge from Fyodor Afanasiev’s workshop. We know that this item was purchased by Empress Dowager Maria Feodorovna in 1905.
All jewelry and accessories produced at the Faberge factory had hallmarks, numbers, and sometimes the hallmarks of the masters. This is how the company kept track of its warehouse, and this system is still used by jewelers.
The entries made by Faberge himself were not preserved in the commodity book. But, fortunately, when the brooch was bought by the Empress, the company wrote down the article number of the brooch on the invoice, which she sent to the Cabinet of Ministers. These records survived the Revolution and now help confirm that the brooch belonged to Empress Maria Feodorovna.

Photo of the brooch taken from the Internet

ROMANOV

-10% discount

sapsana.ru using promo code «AMBERHOLL»

for collection Romanov

BUY ON SAPSANA

There are two types of enamel eggs:

Guilloche enamel is a French technique of applying a transparent layer of enamel over a guilloche design on a silver base.

Old Russian pattern with hot enamel, borrowed from the early Byzantine enamel technique, when enamel is applied to a pattern of wire partitions.

Regardless of which testicle you choose, the meaning will be the same — this is a sign of your love and a special connection between the giver and the recipient of the gift. It is inexplicable, but the multi-colored scattering of these puffies attracts, and choosing your testicle, it is impossible to stop at just one. The detailing of the pattern, the alluring colors of multi-colored enamel, the centuries-old history are delightful. Each such testicle contains a dream and a sense of celebration.

ACCORDING TO THE SKETCH OF THE MASTER

You can complete your collection with a legendary decoration today! In the Sapsana catalog you will find a dozen eggs made according to old sketches by the masters of the Russian Gems factory, 1912) — the official successor of the Faberge traditions in Russia. READ

amberholl-sapsana

Several pre-revolutionary samples are shown in the example:

Photo from the official website of the auction house Sotheby’sEgg-shaped pendant, Faberge factory, in gold with precious stones, guilloche, master Mikhail Perchin, St. Petersburg, 1899-1903

Photo from the official website of the auction house Sotheby’sEgg-shaped pendant, Faberge factory, red guilloché enamel, diamonds. Mater Henrik Wigström, St. Petersburg, around 1900

Photo from the official website of the auction house Sotheby’sEgg-shaped pendant, Faberge factory, in gold and guilloché enamel in the family colors of Leopold de Rothschild, master August Hollming , St. Petersburg, about 1910 g.

Photo from the official website of the auction house Sotheby’s. Gold earrings with guilloché enamel by master Victor Mavr, for Faberge Jewelry House.

Photo from the official website of the auction house Sotheby’s. Gold earrings with diamonds and guilloché enamel by master Victor Mavre, for Faberge jewelry house.

Photo from the official website of the auction house Sotheby’s. Gold pendant-egg with guilloché enamel by master Victor Mavr, for Faberge Jewelry House.

* Victor Mayer (1857 — 1946) founded the Victor Mayer jewelery factory in Pforzheim in 1890. Until 1989, the company produced Fabergé jewelry for Fabergé & Cie in Paris under the Fabergé Paris brand. From 1989 to 2009, the company continued to manufacture Fabergé jewelry under license from Unilever New York until the brand’s license was sold.

* Charm eggs vary in style, from elegant and modest to luxurious and sophisticated. Among their creators were Faberge masters Alfred Thielemann, Henrik Wigström, Eric Collin and even unknown jewelers from the regions up to Kostroma. The eggs were decorated with translucent guilloché enamel, gemstones or carved from semi-precious stones, taking on an endless variety of shapes and colors. Sometimes the egg was shaped like an animal, such as a chicken or a rabbit, or decorated with bizarre motifs such as miniature mushrooms or initials.

amberholl-sapsana

you might like

amberholl

SUN MOROCCO

Spicy combination of Moroccan sun and Russian classics

want

amberholl

THIS IS SPACE

Wild Space Fantasies

want

jewelry fashion

amberholl magazine

GIFTS FOR HER

There is no present that she will love more than a new piece of jewelry. When shopping for jewelry, a woman’s sense of style must be taken into account. After all, jewelry is something that will be with her for years to come. So, to make sure she wants to wear your gift for the rest of her life, you should consider her taste.
READ

GIFTS FOR HIM

A stylish masculine look is formed from discreet details that correctly place accents.
If you want to look harmonious, have an overall consistent style, then the shape and color of your accessories, their correct combination with the overall outfit will be important.
What accessories should you pay attention to this season in order to be in trend and not look ridiculous? READ

7 JEWELRY AS A GIFT WITH A SPECIAL MEANING

From a wide range of jewelry items with a special meaning are perfect for a win-win gift. Such jewelry will add to the image of your chosen one not only femininity, but also a special meaning. A piece of jewelry that matches her personality and a gift box with jewels under her pillow is the best surprise. READ

JEWELRY FOR NEW YEAR’S EVE

The festive atmosphere on New Year’s Eve is created not only by gifts, a festive table or a long evening dress, but also by sparkling jewelry. Shining crystals framing the sun stone, the glitter of gold and silver are the most appropriate in bright Christmas decorations from AMBERHOLL. Our jewelers have created a special collection for you to give you a sense of celebration. READ

The beauty trend of age 50+

The world is moving towards acceptance: acceptance of other cultures, foreign values - and different ages. The attitude to beauty standards is also changing. Thin androgynous girls with a height of 180 cm, just out of adolescence, are a trend of bygone years; they were replaced by openness and acceptance of all shapes and sizes of the human body. This movement is called nodels… READ

DESIGNER pens

The inspiration for the unique writing instruments came from a whole era — the era of great travels and geographical discoveries. These products have the romance of adventure and the spirit of discoverers. In the design elements, you can see the legendary caravel leading Columbus to new shores, or the majestic frigate fearlessly fighting for the honor of the royal crown. In this collection, the smell of rum is an amber drink in oak barrels.
READ

A UNIQUE STORY OF THE MASTERPIECE

In 2014, one of the lost imperial eggs was found at a flea market.
An American metal dealer who bought an egg at a flea market for fourteen thousand dollars planned to immediately resell it for fifteen, making a small profit and forgetting about the find. READ

IN MEN’S STYLE

The desire of modern women to be self-sufficient and play business with men on an equal footing. Seeming simplicity, clear lines, minimalism, borrowed male wardrobe elements are the main components of this fashion trend. The blurred image of a classic man or woman is becoming more and more popular, and androgyny notes are also appearing in jewelry collections. READ

UNISEX JEWELRY:

FOR HIM AND HER

Boys to the left, girls to the right: such a clear division into strong and weak sex is gradually losing its relevance. It is no longer a secret that there is a massive gender shift in the world today, and the boundaries between the sexes are becoming more and more blurred. Men, especially those living in large cities, have begun to take care of themselves more and more, and this is no longer considered something out of the ordinary. READ

JEWELRY FOR OUR PET

Every pet owner is in awe of buying a collar for their pet. He tries to choose the most comfortable and safe collar so that nothing threatens the comfort of the pet. There are a wide variety of collars with different functions: for example, a beautiful leather collar for every day, an elegant chain for display at exhibitions, or even a formal collar for training. READ

INTERVIEW WITH OLDUSHKA .

«I’m CHANGE MY LIFE RADICALLY»

Are we talking about sex now? Apart from the solar sexual energy, there is no other energy. I live, and it is thanks to this sexual energy of the sun and my parents that I was born and gave birth to myself. My children were born only thanks to this energy. .
Who are you today?
Snow queen or fire goddess? Choose your decoration.
READ

EXCLUSIVE AMBER BUSINESS GIFTS

For the main signature. For important decisions. For plans for the future. For fresh ideas. Write your name in history beautifully!
READ

13 STORIES THAT WILL INSPIRE YOU FOR A NEW LIFE.

Is there such a thing as an «age of success»? The prevailing patterns in our society until today indicated that all achievements are possible only at an early age. Is there really that point of age, reaching which we decide that our dream is over? The answer is an unconditional “no!” READ

WHAT IS THE STYLE SECRET OF PARISIAN WOMEN?

The image of Paris has been reflected in jewelry and fine arts for many years. This collection is very personal. Filled with meanings, memories of the city of dreams, and inspired by impeccable Parisians. READ

How does egg production work? — «Eda»

«Smetanino» — is a poultry farm, the only one in the Smolensk region, and not some kind of dairy production, as one might think. Poultry farm in terms of scale is average – 750,000 eggs are produced here per day. Think about it — is almost a million (by the way, they want to grow up to it over the next year). These 750 thousand go to the shops of the Smolensk region, Moscow and St. Petersburg. And this is only a small part of the market — large producers (for example, the Okskaya poultry farm) produce up to 2.5 million eggs per day. All this is eaten for breakfast, turned into creams, sauces, added to the dough, in general, eggs — are an everyday product and fly away in huge quantities.

The Smetanino poultry farm has existed since 1962, it was originally called Katynskaya, just like the state farm to which it belonged. Smetanino is the name of the nearest village, most of which in Soviet times, and even now, worked at the factory. It was on a geographical basis, without much hesitation, that production was renamed after the collapse of the state farm.

In 2010, the factory found an investor — it was bought by the Smolensk Bakery Plant, from which Smetanino ordered poultry feed before. To this day, people still buy food, rejoicing at the convenience: it is easier to interact when the buyer and seller are part of the same holding: something can be bought on credit. This is a gift of fate, if not for him, the factory could have closed, like many others.

Smetanino Poultry Farm today is rows of snow-white new chicken coops. In the foreground is the legacy of the times of the state farm, soon these old chicken coops will be demolished

Eggs from different chicken coops are transported to the sorting shop

Poultry farming, both egg and broiler, is a matter that requires mathematical accuracy. It would seem that it is easier. The hen laid an egg, they took it, washed it, sorted it, packed it and sent it to the store. In general, yes, but there are complex calculations behind almost every item.

Chickens are bought in Vologda. According to veterinary requirements, the incubator, where chickens are obtained from eggs, and chicken coops, where birds lay eggs, must be separated, these are two different productions.

Chickens are reared in one chicken coop, then the young are transferred to others. A young bird is considered to be up to 100 days old, then the chicken officially passes into the adult category, where it remains up to 80 weeks old by factory standards (this is about 1.5 years). A hen lays eggs starting from the 140th day of life. First, small, third category (up to 44.9d), then larger and larger, up to selected (75 g and more).

After 1.5 years, egg production is significantly reduced, which is not critical for a village where chickens lay every two or three days, but for a factory where everything is built in such a way that each laying hen gives an egg a day, yes . Of course, in reality, not every chicken lays every day, but about 95% of the chicken coop, which is considered a good indicator.

If there are few eggs on the tape, then almost all the hens in the coop have finished laying

Primary sorting — dirty and cracked eggs are selected from the total mass

Actually, the main task of livestock specialists and veterinarians at the factory is to make sure that the bird lays eggs regularly and, let’s say, in an organized manner, at the same time every day. For this, a feeding ration is being developed — the quality of the yolk, partly the thickness and strength of the shell, and the health of the bird depend on it. For this, a complex of medical procedures is also being developed — the bird is vaccinated, treated for viral and bacterial diseases. Instead of antibiotics, oxidizing agents are used — this is a set of inorganic acids.

By the way, the thickness of the shell also depends on the breed (or cross) of the bird and on its age. The older the bird, the thinner the shell.

Shell color is a matter of breed. For the past 25 years, Smetanino has been working on breeds that produce eggs with a brown shell. Now the priority is cross highsex brown. There are several reasons. The psychological one is as follows: in the minds of our population, brown eggs are associated with domestic, rural ones, therefore they are more preferable. Although free-range country chicken eggs can be white, gray, brown, and with a dense shell (in summer, when there is a lot of food in the garden), and with thin (in winter, when the bird eats what is given to it hosts).

Different breeds of birds are susceptible to different diseases that are specific to different regions. So, in the southern countries and in the Caucasus, crosses that give white eggs feel better and better tolerate heat, and brown ones in the middle lane and in the north.

In «Smetanino» poultry is fed 5-6 times a day, in small portions, so that the chicken does not gain weight. They are fed with compound feeds consisting of 10-20 ingredients, they vary depending on the age of the bird. The main component is corn, vitamin and mineral supplements, wheat, sunflower oil are also added to the feed.

After the initial sorting, the eggs are evenly placed on the belt

Where they are checked again from all sides

Egg production is affected by light conditions, humidity and temperature in chicken coops. There are no windows in chicken coops, only small holes for ventilation. Lighting is completely artificial. If in real life the chicken starts laying eggs shortly after dawn, then at the factory the dawn is simulated at two in the morning, so that by 10 am, when employees come to work, almost all the chickens have time to lay their eggs. From 12 to 14 in the chicken coops at night — there is no light. But at this time, poultry, mechanics and other workers can have lunch.

“Our chicken is an egg production machine,” says Yury Davydovsky, general director of Smetanino. “We create sanatorium conditions for her: she ate, slept, laid an egg, ate, slept …” And not only. When a chicken turns a year and a half, it is allowed to molt — they joke at the factory that this is a rejuvenation procedure.

Moulting goes like this. First, the bird is given an increased amount of calcium supplements, and then they create stress — they stop feeding altogether for several days. As a rule, the bird spends about a week on the water. 5% do not withstand and die, the rest shed their plumage, begin to grow a new one. A week later, they begin to feed the bird, and after a month and a half, the chicken begins to lay eggs — as large as in their “young” 40 weeks. And continues to do so for about a year.

A year later, the bird is either allowed to molt again or, more likely, sent for slaughter — in Smetanino there is a small workshop for the production of chicken stew.

Eggs are placed between round rollers so that none of them break on the way to sorting.

Graded eggs are marked with a category designation. There are approximately 1 million birds in Smetanino, including young birds that do not yet produce eggs, and adult laying hens. They sit separately, in different chicken coops (there are six of them in Smetanino, two for young people and four for adults). The bird sits in small cages stacked on top of each other in 6-7 tiers. One cage is a space of about a square meter, and about 8 birds get along on it. Each chicken coop has its own aviaries (they watch the bird) and a locksmith. Outsiders are not allowed inside, even employees are completely washed before entering, from head to toe, and not just their hands, as is customary in most industries. At the factory, they recall how they once decided to let a photographer inside. “He came out five minutes later with round eyes,” Yuri Davydovsky laughs. “He flashed a flash, it was dark in there, and hundreds of thousands of eyes were staring at him at the same time, like in a horror movie. ”

Each chicken coop has its own program — when it turns on and off the light, when water is supplied, when feed, and of course, the egg collection process is automated. Previously, this process was manual and time-consuming, now everything is easier. On the sloping floor in the cage, the eggs roll down, fall onto soft belts, and are transferred from the chicken coop along the conveyors to the sorting shop.

Sorted eggs are manually placed in boxes, before which they are once again carefully checked for integrity

The sorting machine separates eggs not only by weight, but also by quantity, for example, it automatically stacks them in pallets of 30, 20, and 10

A short digression into biology. Laying hens lay unfertilized eggs. A chicken has an ovary with follicles on it. The follicle is the future yolk, outwardly they look like grapes. The follicle grows to a certain size, breaks off and goes into the funnel, where protein formation begins. After the funnel, the future egg enters the oviduct, it looks like a pipe folded several times. It is equipped with straight and circular muscles, in other words, the egg along it not only moves forward (or down, it’s up to you), but also rotates. This body is divided into parts. In the first, protein is produced and wound onto the follicle, below is a protein of a different quality, at the third stage, the protein shell is wound (this is the very film that we do not like to peel off boiled eggs), followed by the shell. All this goes through the cloaca into the external environment. The whole process takes about a day. As soon as the laying hen has laid one egg, the formation of the next one immediately begins.

Smetana’s eggs are packed in such cute cardboard boxes, they are easy to open in the middle.

Hundreds of thousands of eggs are packed every day at the factory. Then, from the total mass, eggs with a broken shell are selected. Melange is made from them — for this, a special pasteurizer was bought at the factory.

Dirty eggs are also selected from the total mass, they are washed and returned back. Then the eggs enter the machine, which itself sorts the eggs into categories (third, second, first and selective) and puts the appropriate marks on the eggs. At the exit, it remains only to take pallets from the tape and transfer them to cardboard boxes. So, for dinner, an egg laid at night is in the package, the next morning or the next day — in the store.

And here’s what’s interesting. As you know, eggs are divided into dietary (storage up to 7 days from the moment they were laid) and table eggs (up to 25 days). Smetaninsky table eggs often hit the counter at the age of 2-3 days, that is, at this moment they are essentially dietary.

Dirty eggs in Smetanino are washed by hand

In addition to their salary, each employee also receives 30 eggs a month free of charge

Eggs are not gingerbread that can wait in the wings in the warehouse, it is a product that spoils rather quickly, and no refrigerators not save him. Chickens lay eggs despite holidays, weekends and vacations, so the task of the factory is also to sell everything that is in a timely manner, without creating stocks.