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The Wayfair headquarters in the Back Bay section of Boston, Massachusetts in 2018. Wayfair Inc. is an American e-commerce company based in Boston, Massachusetts [ 6] that sells furniture and home goods online. Formerly known as CSN Stores, it was founded in 2002, and currently offers 14 million items from more than 11,000 global suppliers. [ 3]
Conine co-founded Wayfair in 2002, and is the co-chairman of the board. [5] In May 2017, Wayfair's share price rose above $70 per share, making Conine and his co-founder Niraj Shah both billionaires. As of 2019, each had an estimated net worth of $2.3 billion. [6]
Shah grew up in Pittsfield, Massachusetts, the son of immigrants from India. [2] His grandfather ran a "steel manufacturing business in India, making pots and pans". [2] His father worked for General Electric as a mechanical engineer, and after his retirement, joined Wayfair early on, providing financial advice, and still works for the company.
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Wayfair, like many e-commerce companies, saw their pandemic boom run headfirst into a tougher macroeconomic climate in 2022. After the company endured a more than 80% stock decline last year ...
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