How This Company Is Profiting Giving Perks to Military Members and First-Responders
GovX's small customer base helped it cash in with investors.
Opinions expressed by Entrepreneur contributors are their own.
The average citizen shops online at Amazon. But folks in the military and government first-responders (such as police and firefighters) have a deeply discounted online marketplace just for them: It's called GovX, and it carries nearly 100,000 products from about 500 brands, including Ray-Ban, Garmin, prAna, Woolrich and 5.11 Tactical, at discounts of 25 to 40 percent.
It's a good deal for shoppers, but how did GovX make this niche, low-price site sound like a good deal to investors? Last summer, it announced it closed a Series B round of preferred stock financing that brought its total investments to $11.5 million.
Continue reading this article — and all of our other premium content with Entrepreneur+
For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:
- Digestible insight on how to be a better entrepreneur and leader
- Lessons for starting and growing a business from our expert network of CEOs and founders
- Meaningful content to help you make sharper decisions
- Business and life hacks to help you stay ahead of the curve