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Virtual To Reality: Startup B8ta Raises $19M To Bring Online Retailers In Stores

Warren Shoulberg Virtual To Reality: Startup B8ta Raises $19M To Bring Online Retailers In Stores B8ta is a new store-in-store company trying to make Macy's less square. (Photo by Drew Angerer/Getty Images) If anyone ever doubted that online retailers are increasingly looking at physical stores for growth, there are 19 million more reasons to convince you it's true. Nineteen million — as in $19 million — is what a company called b8ta garnered in new financing this week for its business model that essentially offers a turn-key setup for e-commerce companies looking to go from virtual to real. Overall the company had raised some $39 million. The money will come in especially handy for b8ta (good luck spell-checking that one), which earlier this year announced a hook-up with Macy’s (which helped with this latest financing) to create such store-within-a-store projects through its "Built by b8ta" program. The first, Market@Macy’s, opened this past winter, and both sides are saying there are many more to come as the program expands and develops. B8ta has also worked with Lowe’s on pop-up experiments with a smart-home shop called SmartSpot. And the company operates its own stores as well, providing the same format for would-be physical retailers. The key to the concept is b8ta’s software, which includes checkout, inventory, point-of-sale, inventory management and staff scheduling services among its components — all disciplines that e-commerce companies have not had to deal with for the most part. Nearly every online retailer worth its Instagram page is looking into physical retailing as a way to reach new shoppers — and cut their customer-acquisition costs, which have been the Achilles heal for such businesses. Each no doubt has a Warby Parker poster on the walls of their office, pointing to the eyewear seller as the role model for how to move from online to in-store.

For the original version including any supplementary images or video, visit https://www.forbes.com/sites/warrenshoulberg/2018/06/28/b8ta-finds-a-way-to-bring-online-to-in-store-and-macys-not-to-mention-investors-like-it/

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