Though details are still scarce, Khan's new retail company, called Verishop, said Monday in a post on Medium that it plans to launch an e-commerce platform for vetted brands that brings back to customers the "joy of discovering something new that you truly love" on the internet.
"We see an opportunity for an e-commerce company to bring joy back to online shopping and do it at scale with the ease of online purchasing and fast delivery we've all come to expect," the blog post said. Verishop added that the company has been communicating with up-and-coming brands that share frustrations over existing online retail platforms that have counterfeit products or that hurt brand integrity.
"E-commerce was supposed to make shopping easier, and for everyday commodity items, it has," the blog post said.
Businesses that have already agreed to sell on Verishop include beauty retailers Ursa Major and Indie Lee, bedding maker Primary Goods, and apparel brands J.O.A., Finders Keepers and N:Philanthropy, according to a person familiar with these partnerships. The person, who asked to remain anonymous because the website hasn't launched yet, also said Verishop is in discussions with a number of direct-to-consumer brands about joining the platform.
Verishop's leadership team includes Khan, who spent three years at Snap as chief strategy officer, as well as his wife Cate Khan, who spent eight years at Amazon.
The company said it's raised $17.5 million to date from investors, led by Lightspeed Ventures.
Disclosure: CNBC parent NBCUniversal is an investor in Snap.