Wayfair Inc. is an American e-commerce company based in Boston, Massachusetts[6] that sells furniture and home goods online.
[13] Both Shah and Conine hold a Bachelor of Science degree from Cornell University, and had run two previous companies: Simplify Mobile, and iXL, a global consulting firm.
Originally known as CSN Stores (derived from a combination of Shah and Conine's initials), the company began with the website racksandstands.com, selling media stands and storage furniture.
In 2003, it added patio and garden goods suppliers, three online stores, and more than a dozen employees, and moved its headquarters to an office on Newbury Street in Boston.
In an effort to scale, direct traffic to a single site, and unify the company aesthetic, Shah and Conine rebranded CSN Stores as Wayfair (a name chosen by a branding firm, with no other meaning).
In August 2013, it acquired DwellStudio, a New York City-based design house and retailer focused on modern home and family furnishings.
[20] In October 2014, Wayfair raised over $300 million through an IPO on the New York Stock Exchange under the ticker symbol W.[21] In July 2015, it sold its Australian business to local online retailer Temple & Webster for an undisclosed amount.
[1] On December 13, 2018, the Massachusetts Economic Assistance Coordinating Council approved a $31.4 million tax break for Wayfair in exchange for a pledge to increase their hiring by at least 3,000 in Boston and 300 jobs at a new call center in Pittsfield.
[2] During participation on a business panel on September 19, 2019, CEO Niraj Shah was asked what Wayfair was looking for in new hires and he said the company was looking for employees who are talented and non-political.
"[35] On June 25, 2019, Wayfair employees announced plans to walk out in protest of a BCFS contract to sell beds to temporary migrant detention camps in a letter to senior management, including Niraj Shah and Steve Conine.
[39] In late October 2019, the company announced it had hired 1,500 people in the last quarter, had a net loss of $272 million, and a revenue increase of 36 percent over the previous year.
[41] On July 10, 2020, Wayfair became the subject of a conspiracy theory that falsely accused the company of being involved in child sex trafficking as a front organization.
[42][43][44] In 2022, Wayfair announced the opening of a flagship store in the King of Prussia Mall outside of Philadelphia, PA.[45] On August 19, 2022, CEO Niraj Shah penned a letter to employees[46] notifying them that approximately 900 positions were to be laid off.
[48] In January 2025, Wayfair announced that the company would withdraw from the German and Austrian markets, leading to a layoff of an estimated 730 positions or 3% of its global workforce.
Mayor Julien Neubert (SPD) in Lich, Hesse expressed regret publicly for the company's decision to exit the market, citing the impact layoffs would have on his city of about 14,000 residents.
[49][50] Wayfair has over 12 million square feet of warehouse space in Europe and North America with a dozen fulfillment centers.
Wayfair employs over 2,300 engineers and data scientists and 3,000 customer service representatives in Boston; Berlin; Ireland; and other cities in the United States.