Boxed, an online retailer of bulk products, is in talks to go public through a merger with Seven Oaks Acquisition, Bloomberg reports, citing people with knowledge of the matter.
A transaction is set to value the combined company at more than $1 billion, said the people, who requested anonymity because the talks are private. Terms aren’t finalized and it’s possible talks could collapse.
Founded in 2013, New York-based Boxed, led by CEO Chieh Huang, offers free shipping on bulk orders of groceries and household products if users spend $49 or more. Read more.
