Shutterfly—a leading digital platform for personalized products—announced an agreement to acquire Spoonflower, a global marketplace connecting makers & consumers with artists worldwide. The $225 million accretive acquisition is subject to regulatory approvals & other conditions, and is expected to close in 3Q—2021.
The deal accelerates Shutterfly’s expansion beyond photo-based personalization, and enables them to more broadly serve the fast-growing home decor marketplace by adding Spoonflower wallpaper, fabric, linens, bedding and other home decor soft goods to its product assortment; and connecting Shutterfly’s 21 million active users to Spoonflower’s artists & design community. The acquisition follows a year of record revenue growth for Spoonflower over the last 18 months amid the thriving DIY consumer movement, and is viewed as complementary, and a strategic fit for Shutterfly.
Spoonflower will retain its distinct brand, culture and team structure. CEO Michael Jones will continue to lead Spoonflower, reporting to Hilary Schneider, CEO of Shutterfly. For more information, visit www.shutterflyinc.com.
The deal accelerates Shutterfly’s expansion beyond photo-based personalization, and enables them to more broadly serve the fast-growing home decor marketplace by adding Spoonflower wallpaper, fabric, linens, bedding and other home decor soft goods to its product assortment; and connecting Shutterfly’s 21 million active users to Spoonflower’s artists & design community. The acquisition follows a year of record revenue growth for Spoonflower over the last 18 months amid the thriving DIY consumer movement, and is viewed as complementary, and a strategic fit for Shutterfly.
Spoonflower will retain its distinct brand, culture and team structure. CEO Michael Jones will continue to lead Spoonflower, reporting to Hilary Schneider, CEO of Shutterfly. For more information, visit www.shutterflyinc.com.
