EWanted

About EWanted

Founded in 1999 and based in Santa Clara, United States, eWanted.com operates as a reverse e-auction marketplace. The company pioneered a buyer-focused model where consumers post items they want to buy, and sellers compete for their business. This approach inverts the traditional auction format. Initially, the platform served a broad market, but it later specialized, particularly in collectibles and memorabilia. A significant milestone occurred in July 2001, when eWanted acquired Fleetwood Owen, an entertainment memorabilia auction site co-founded by the band Fleetwood Mac. This acquisition led to the creation of "The Emporium," a specialty site offering authenticated memorabilia to eWanted's user base, which at the time numbered around 650,000 members worldwide.

The company's early financial history includes securing approximately $5 million through angel investments and executive infusions, which was followed by a substantial first round of institutional funding in June 2000. This round, led by Hikari Tsushin Inc., raised $31.7 million, placing the company's pre-money valuation at $90 million. Other participants in this funding round included Dain Rauscher Wessels, Roadrunner Asset Management, and Avitar Capital Partners. At that time, the company was led by CEO Craig Palmer, who highlighted the firm's scalable business model and first-mover advantage as key factors in attracting investment despite a challenging public market.

eWanted's business model is centered on its online marketplace, which facilitates transactions by connecting buyers with a network of sellers. The acquisition of Fleetwood Owen enhanced this model by integrating expertise in memorabilia authentication and leveraging an extensive network of dealers, collectors, and celebrities. This strategic move allowed the company to host high-profile events, such as the "At the Movies" auction, which was broadcast simultaneously in London and San Francisco and featured online bidding enabled through a partnership with eBay Live. One source indicates the company operates as a provider of advertising services, though details on this aspect of the business are limited.