Karmaloop Founder Receives E & Y Entrepreneur Award
Greg Selkoe, chiefexecutive officer and founder of streetwear e-commerce site Karmaloop, was among therecipients of the “Entrepreneur of the Year” award for e-commerce in NewEngland, presented by Ernst & Young.
The assurance-, tax-,transaction- and advisory-services firm has been presenting its awards byregion. Los Angeles awards were presented on June 19. The company has beenhosting its annual entrepreneur awards for more than 25 years.
The entrepreneur award is presented to thosewho “demonstrate excellence and extraordinary success in such areas asinnovation, financial performance, and personal commitment to their businessesand communities.” Selkoe received his award at a June 21 gala. His Boston-based company is now in the running for Ernst &Young’s “National Entrepreneur of the Year” award, which will be presented inPalm Springs, Calif., in November.
“We are working reallyhard to make Karmaloop the best ‘verge culture’ destination in the world forcommerce and content,” Selkoe said. “Another really wonderful aspect of thisrecognition, for me, is that it will help me to build the accelerator programfor my new nonprofit, Future Boston Alliance. Future Boston is dedicated to supportingentrepreneurship and creativity in Boston in an effort to retain more youngtalent and start-ups. I want to help other entrepreneurs thrive inBoston.”
Founded in 2000,Karmaloop has grown into a $200 million company with customers in 80 countriesaround the world. It has also formed a partnership with Xiu.com, which distributesmerchandise to the Chinese market. In addition to the e-commerce site,Karmaloop operates KarmaloopTV.com, PLNDR.com, BoylstonTradingCo.com, BrickHarbor.com, Karmaloop Europe, Kazbah UndergroundBrands, and MissKL.com, a sister site that exclusively carries women’sapparel. Later this year, the company is planning to launch a KarmaloopTVnetwork via IPTV (Internet protocol television) and a premium YouTube content channel.— A.A.N.
