Michael Welch OBE founded Blackcircles.com, the worlds 1st ‘click to fit’ online tyre retailer in 2002, managing to build a market leading profitable business on less than $1m funding. Blackcircles 2002 first year sales reached $5,000, with 0.5% online conversion on a CAC of $40, in his final year sales reached $80,000,000 with 8% online conversion on a CAC of $5 & repeat customer levels at 30%. In 2015 Michael sold Blackcircles.com to Michelin Plc , the worlds largest tyre manufacturer.
Prior to Blackcircles.com, Michael started his first online tyre business in 1995 in Liverpool, England when he was 17 & subsequently sold that business to UK fast fit chain Kwik Fit where he was hired as the group’s first head of e-commerce in the lead up the Ford’s £1 billion acquisition in 1999. He subequently spent a few years between the UK and US assisting the Ford group with their ecommerce execution.
Michael has a number of startup investments. He is a founding director of Full Circle Partners, advising fast-growth companies on how to fund, scale & exit. He has invested in & chairs fashion tech startup Atterley.com and sports wearable tech startup PlayerData.