Cafepress Acquires Imagekind.com for an Estimated $15-20 Million.
It was informally announced this morning that Cafepress purchased Imagekind.com for an estimated $15-$20 million. Imagekind is a marketplace of member created art that is printed on demand. The model is similar to Cafepress where the artists set their own price markup but it is focused specifically on prints. Prices of the artwork range from $5 to $500.
Imagekind was founded in 2006 with $300K used to purchase printing equipment, hire staff and web site development. In February 2007 Imagekind raised an additional $2.6 million in funding and was valued at around $7 million. Imagekind had turned down offers in the past to be purchased by Amazon.com. It is likely that both Art.com and Zazzle.com were also involved in recent negotiations to purchase the growing print on demand company. Imagekind has grown quickly to over 750,000 art images for sale by over 50,000 artists worldwide.
For more information on the deal check out Venture Beat or an older article with a few facts about Imagekind at the Seattle Times. You can also follow the story at TechCrunch.
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Comments
[...] “Imagekind has grown quickly to over 750,000 art images for sale by over 50,000 artists worldwide.” “In February 2007 Imagekind raised an additional $2.6 million in funding and was valued at around $7 million.” –Source: T-Shirt Talk [...]
This is going to be interesting to say the least- It will be a Wait and See as to how this is handled and what eventually happens with the SAS affiliates.
Cool! This sounds great! Looks like Cafe Press is going to have a bunch of new folks on board. It will be interesting to see what happens.
Wow, that’s big news.