Redbubble acquires TeePublic for USD 57.7 million

Friday 26 October 2018 10:56 CET | News

The online marketplace Redbubble has announced its acquisition of US-based TeePublic for USD 57.7 million.

Much like Redbubble, TeePublic is a global online marketplace that enables artists to sell their designs on 45 products, produced and fulfilled by a third-party supplier network.

The acquirer plans to maintain and grow the business as part of a multi-brand strategy, with TeePublic co-founder and chief operating officer continuing to run the business, to enable a smooth transition towards Redbubble.

Redbubble saw revenue increase 31.3% on a constant currency basis to USD 59.6 million in the first quarter of FY19. Gross profit increased 33.6% on a constant currency basis to USD 18 million, with mobile sales increasing over 60% year over year.

The acquisition is expected to be completed in early November 2018.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Redbubble, TeePublic, acquisition, online marketplace, ecommerce
Countries: World