Shutterfly, a digital retailer and manufacturing platform for personalized products, has agreed to acquire Spoonflower, a global marketplace connecting makers and consumers with artists, in an acquisition for approximately $225 million of enterprise value subject to certain working capital and other adjustments. Shutterfly expects to adding Spoonflower wallpaper, fabric, linens, bedding and other home decor soft goods to its product assortment and connecting Shutterfly’s users to Spoonflower’s artists and design community.
“We are excited to welcome Spoonflower to the Shutterfly family of brands,” said Hilary Schneider, chief executive officer of Shutterfly. “Millions of consumers use Spoonflower to make and upload their own designs on premium fabric, wallpaper and home decor, ignite their entrepreneurial spirit by launching small businesses or express their personal style by shopping the marketplace of more than one million designs. Driven by its passionate creative community and a visionary management team, Spoonflower has also experienced explosive growth over the last 18 months amid the thriving DIY consumer movement.”
Spoonflower is a global marketplace offering custom, print-on-demand fabric, wallpaper and home decor designed by global independent artists. Spoonflower’s community also includes makers, consumers, interior designers and small business owners.
Schneider added, “The Research Triangle Park area – the tech hub encompassing Raleigh, Durham and Chapel Hill, NC – is also home to a talented workforce and an entrepreneurial culture. We are excited to have a growth hub in RTP for further expansion across Shutterfly.”
“Shutterfly is truly our perfect match,” said Michael Jones, chief executive officer of Spoonflower. “Not only will Spoonflower now enable Shutterfly consumers to buy artists’ customized design creations in addition to personalizing their own, but we will also unlock the ability to reach new audiences and scale the small businesses of our incredible creative community thanks to Shutterfly’s manufacturing expertise and expansive customer reach. We’re simply thrilled to be joining the Shutterfly family.”