Remember, dear reader, back in Rover 018
when we said more and more companies were going to have to figure out how to brand themselves as a tech company of some kind?
Ready for exhibit B in that argument? (Exhibit A, as you'll recall, was Under Armour.)
According to Tristan Walker, CEO of Walker & Company Brands, in an interview at Recode's Code Conference
, it's getting harder for new ecommerce companies to raise the cash they need to survive and grow.
Says Walker, "No one wants to fund a retail business."
Instead, as Walker has found
, moving away from the idea of "retail" or "ecommerce"—and, yes, to "tech"—seems to be key to securing VC money these days.
He also points to an under-recognized factor that's making things even tighter for ecommerce up-and-comers—that the health & beauty vertical is the last bastion of solid profit margins, the one Amazon hasn't yet dominated.