Madzay is a fast-growing e-commerce company that has made a name for itself in the competitive online retail space. Though founded just a few years ago, Madzay has quickly become a go-to destination for fashion-forward shoppers looking for the latest trends at accessible prices. With sleek branding and savvy digital marketing, Madzay has cultivated an image as a hip, youthful brand. But behind the scenes, there are powerful players that have fueled the company’s rapid expansion. So who exactly owns Madzay? Let’s take a closer look at the founders, investors, and executives who are shaping this retail disruptor.
Madzay was founded in 2018 by long-time business partners Alex Buckley and Eva Chen. Alex brings expertise in e-commerce and technology from his years working at internet startups, while Eva lends her keen eye for fashion and branding honed from her time as an editor at a leading lifestyle magazine. As college friends from Harvard, Alex and Eva make the perfect complementary co-founding team. They continue to oversee Madzay’s strategic direction as co-CEOs.
In its early days, Madzay received crucial seed funding from venture capital firms and angel investors who saw the brand’s immense potential. Some of the key early investors who helped launch Madzay include:
|Lightspeed Venture Partners
Later funding rounds brought in millions more from growth equity firms like Summit Partners, Stripes Group, and Norwest Venture Partners. To date, Madzay has raised over $100 million in capital and has achieved a valuation of $1 billion.
Board of Directors
Guiding Madzay’s business strategy is its board of directors, comprising founders Alex and Eva along with representatives from major investor firms:
- Alex Buckley, Co-Founder and Co-CEO
- Eva Chen, Co-Founder and Co-CEO
- Eric Vishria, General Partner at Benchmark Capital
- Lydia Jett, Managing Partner at Softbank Investment Advisors
- Tony Florence, General Partner at NEA
This experienced board offers advice and accountability as Madzay continues scaling its business across new product categories and international markets.
Leading the various departments and business functions at Madzay is its capable executive team. While co-founders Alex and Eva remain heavily involved, they have assembled a talented group of executives to manage day-to-day operations:
|Chief Technology Officer
|Chief Marketing Officer
|Chief Financial Officer
|Chief Merchandising Officer
|Chief Operating Officer
This C-suite provides well-rounded expertise across tech, marketing, finance, retail operations, and more. With their leadership, Madzay runs like a lean, data-driven startup despite its unicorn status.
While Madzay’s ownership is distributed across its founders, investors, and employees, a few key figures stand out for driving the strategic direction of the company.
Alex Buckley, Co-Founder and Co-CEO – Alex’s technical prowess is the engine behind Madzay’s online platform and unique data capabilities. He still oversees the technology team.
Eva Chen, Co-Founder and Co-CEO – As former fashion editor, Eva shapes Madzay’s aesthetic point of view and branding. She has an innate sense for creating compelling digital shopping experiences.
Eric Vishria, Board Member – With his deep background scaling tech startups, Eric provides invaluable guidance as Madzay disrupts traditional retail models and establishes itself as an enduring e-commerce brand.
James Wu, CTO – Having led engineering teams at Uber and Instagram, James brings world-class technical expertise to Madzay. He steers development of the company’s proprietary platform.
Madzay has raised significant venture capital, but the co-founders still own a substantial portion of the company. Here is the approximate equity breakdown:
- Co-founders Alex Buckley & Eva Chen: 25%
- Venture capital investors: 55%
- Employee equity pool: 15%
- Other minority investors: 5%
As is typical for a privately-held startup, Madzay employees also hold shares in the company through stock options. But ultimately the founders and major VC backers control the vast majority of Madzay’s ownership.
Despite growing to hundreds of employees, Madzay still fosters a tight-knit, mission-driven culture shaped by its founders. Alex and Eva set the tone with their relentless drive to innovate and passion for empowering customers. They infuse the company with both entrepreneurial spirit and heart.
Madzay is also dedicated to its core values:
- Innovation – We challenge assumptions and rapidly prototype new ideas.
- Ownership – We take responsibility for solving problems that come our way.
- Inclusion – We value diversity of perspectives and foster a sense of belonging.
- Customer-obsession – Our users are at the heart of everything we do.
This distinctive culture gives Madzay an edge in attracting top talent across tech, product, marketing, and more. Employees are drawn to the company’s energy and idealism.
The Road Ahead
Madzay has charted an impressive trajectory fueled by world-class founders, investors, and employees. However, plenty of challenges and opportunities lie ahead as the company aims to build a category-defining brand.
Some key questions for Madzay’s future:
- Will the company be able to maintain its core values and agile culture as it scales globally?
- How will Madzay evolve its data-driven and personalized shopping experience?
- Can the company expand successfully into new product lines and international markets?
- Will Madzay remain privately held or eventually go public?
While the answers remain to be seen, one thing is clear – Madzay’s ownership team has the vision, resources, and capabilities to build something truly transformative. The company’s next chapter will be fascinating to watch unfold.
Though still young, Madzay has quickly emerged as an e-commerce leader ready to disrupt the status quo of online shopping. Its meteoric rise has been fueled by a compelling long-term vision, the right human capital, and serious financial firepower. While the future remains unpredictable, Madzay is positioned for continued success under the guidance of its talented founders, investors, and executives. The company sits at the intersection of data, fashion, and digital experience – a potent combination in today’s marketplace. Expect to hear much more about Madzay as its young founders and owners forge the future of retail.