Sources close to the acquisition inform us the fee tag used to be coming near $ a hundred million, with it being a cash and stock deal.
founded in 2014 by Bryan Baum, Andrej Pancik, and Leo Seigal, symbolize is much like CustomInk in that it lets someone create and sell apparel and accessories without a upfront prices. alternatively, the platform specializes in working with celebrity influences who are seeking for a method to monetize their affect through the sale of customized t-shirts and merchandise.
the corporate has labored with influencers like Stephen Amell, Grace Helbig, and Ronda Rousey, all of whom have ran campaigns on the site. Rousey’s campaign was once in particular a hit, grossing $ 2.three million in t-shirt sales in a fundraiser for Didi Hirsch mental health services.
The acquisition will unquestionably help CustomInk bring more celebrity influencers onto their platform. additionally, it is going to give outstanding CustomInk shoppers additional tools to help leverage and monetize their affect amongst enthusiasts.
significantly, the acquisition doesn’t mean characterize is shutting down each time soon. the company will proceed to function as a distinct model, while their provide chain, operations, and technology might be integrated into CustomInk. The buyout is a milestone for the la startup scene, which is gaining more and more credibility within the eyes of Silicon Valley.
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Startups – TechCrunch