Blackstone and Juxtapose, a founding partner of the company, have provided $200 million in equity to Kite, a commerce company focused on scaling brands.
Kite looks to support digitally-focused consumer product brands. Using the reach of Blackstone’s and Juxtapose’s resources, the company looks to pursue transformational growth opportunities in the e-commerce space in ways that entrepreneurs may not be able to do on their own. Kite will initially focus on investing in and acquiring brands that help people invest in personal growth. The company will be led by Rob Solomon, former CEO and chairman of GoFundMe.
“As we build upon the platform’s suite of companies and products, the more insights we will glean on consumer preferences, buying behavior, and brand-customer engagement,” says Solomon. “As the platform matures and expands, we will refine our ability to make data-driven strategic decisions to intelligently scale our brands.”