In the Amazon seller space, Josh Dittrich, 36, is one of the more veteran players. By his reckoning, he’s been working in the category since approximately 2009 — unless you count his brief turn as a fitness mogul.
“I remember the very first experience I had was in 2006-07,” he told Insider. “I sold 40 P90X [fitness systems] overnight, and I was tickled pink that I made all of this money. I’ve always been sort of a dabbler in the ecommerce space as far back as I can remember.”
The opportunity on Amazon was clear to Dittrich, and after a while, working on one line of products wasn’t enough. He started a side hustle in 2016 to sell merchandise in a wide variety of Amazon categories, figuring he could apply the knowledge base he’d acquired in developing this sales channel in one niche to selling on the retail platform full time.
After roughly two years, Dittrich was able to go all-in on his new venture, and now he’s selling out to Elevate Brands for a structured deal that will be worth more than $10 million, assuming that his company hits a few key performance indicators.
Elevate Brands acquired the company with visions of great expansion in the coming years.
“We felt that Josh’s company had a lot of upsides in that we felt that we could dramatically improve sales by giving many of their products a new look and feel, and our marketing team is very excited about that,” Ryan Gnesin, CEO at Elevate Brands, told Insider, adding that his company plans to add sustainable packaging and may sign on influencers to endorse some of the products.
Read the full article: An Amazon seller cold-called dozens of firms to buy his company, and now is selling it for more than $10 million. Here’s how he did it.
