Retailer Churn: Minimal We were able to identify very few retail customers who left CommerceHub Over the years CHUB lost very few customers: Circuit City • Well, Circuit City had a good reason … it went bankrupt. Target • Target decided to go with an in-house solution several years ago. Smaller Retailers • CHUB lost some smaller retailers who did not ramp up their dropshipping business. Exact number and names are unknown. Caro-Kann Capital LLC 35