Online retailer eBags calls this Greenwood Village office home and it recently signed a new 7-year lease.
Ebags CEO Mike Edwards and company co-founder Peter Cobb are among a group of investors who bought a portion of the online retailer after long-time investor Benchmark Capital sold its stake, Edwards confirmed Thursday.
Benchmark — the well-known behind Uber, and Zillow — put $30 million into the Greenwood Village retailer back in 1999 as the company was just starting up.
Sixteen years later, Benchmark was apparently ready to get out.
“Benchmark was invested in the company for 17 years. It was one of their early funds,” said Edwards, who after serving in executive roles at Staples, Borders bookstores and Lucy Activewear. “They have been a great investor and a big supporter of the company.”
With Benchmark wanting to sell its stake, Edwards said he jumped on the opportunity to buy shares.
“I didn’t know this was going to be an option but I immediately became an investor upon joining the company and had always considered that I’d buy more shares when they became available,” he said. “I’m obviously very comfortable and confident in the business model.”
Jackets at eBags? The Greenwood Village online retailer recently expanded beyond bags.
Since eBags is a private company, Edwards won’t say how much of eBags he now owns. But Benchmark is completely out. Co-founder Peter Cobb also acquired new shares, as well as and . Bob Kagle, who led Benchmark’s early investment in eBags, also stepped down from the board and was replaced by Cobb.
EBags board members and executives now one about one-third of the company, Edwards said.
The company has been retooling its site recently expanded heavily into mobile shopping, and travel accessories, which .
Over the four-day holiday weekend, each day.
The company employs about 110 people at its Greenwood Village headquarters. It recently signed a 7-year-lease to stay in the space.
