In 2017, Max Rhodes found himself at a crossroads. He had spent years at Square, working on groundbreaking products like Square Capital and Cash App, yet something felt unfinished.

Through his time at Square, he had seen firsthand how small retailers struggled to source inventory. Many of them faced a harsh reality—wholesale was built for big players.

1. Minimum order requirements were too high.
2. Inventory purchases were risky—if products didn’t sell, retailers lost money.
3. Discovery was outdated—trade shows and in-person sales dominated the industry.
4. Payments were rigid—small stores often lacked the cash flow to buy upfront.

Independent retailers were being left behind. Max saw an opportunity to change that.

Alongside his Square colleagues Daniele Perito, Marcelo Cortes, and Jeff Kolovson, he launched a new kind of wholesale platform—one that put the power back into the hands of small retailers and independent brands.

They called it Faire.

A Marketplace Built for Small Businesses

From the start, Faire’s mission was clear: make wholesale fairer for small businesses.

Instead of forcing retailers to take on all the risk, Faire introduced a risk-free purchasing model:

1. Net-60 payment terms – Retailers could stock inventory now and pay later.
2. AI-powered product recommendations – Faire helped stores discover unique, high-performing products.
3. Free returns on unsold products – If something didn’t sell, retailers could send it back.

This was a radical shift from traditional wholesale, where businesses had to pay upfront, buy in bulk, and hope for the best.

Faire’s approach quickly resonated. Within a year, thousands of retailers and independent brands joined the platform, embracing the new way of doing business.

Scaling to a $7B+ Valuation

Faire’s early momentum didn’t go unnoticed. The company joined Y Combinator’s Winter 2017 batch, refining its business model and preparing for rapid growth.

By 2018, Faire had already gained significant traction:

1. They graduated from YC’s Growth Program in F18
2. They secured major funding rounds, with YC leading investments from Series B to G
3. Their marketplace expanded to 50,000+ retailers and 10,000+ brands

Today, Faire is valued at $7B+, employs over 1,000 people globally, and has transformed wholesale into a digital-first, AI-powered industry.

Lessons from Faire’s Success

1. Wholesale Didn’t Need to Be Disrupted—It Needed to Be Modernized

Faire didn’t tear down the traditional wholesale model; they improved it. By introducing AI-driven discovery, risk-free purchasing, and flexible payments, they built a better version of wholesale rather than trying to replace it.

2. Product-Market Fit Matters More Than a Great Product

Faire’s success came from solving a real problem—helping small retailers source inventory in a way that worked for them. Their model didn’t just attract users; it became a lifeline for thousands of businesses.

3. Timing Is Everything

Faire launched at a time when independent retail was experiencing a resurgence. Consumers were looking for unique, locally sourced products, and small retailers needed better ways to compete with e-commerce giants. Faire gave them the tools to do just that.

The Future of Faire

As Faire continues to grow, they are expanding their reach globally, enhancing their AI-driven discovery tools, and strengthening their ecosystem of independent brands and retailers.

Their success proves that betting on small businesses isn’t just good for the economy—it’s a billion-dollar opportunity.

And for thousands of independent retailers, Faire isn’t just a marketplace. It’s a movement.