Printing giant Vistaprint acquires 99designs
Vistaprint announced today that its parent company Cimpress has acquired freelance design marketplace 99designs.
The companies say that 99designs will become part of Vistaprint while also operating as a separate brand, with 99designs CEO Patrick Llewelyn continuing lead his team and reporting to Cimpress/Vistaprint CEO Robert Keane.
The acquisition announcement emphasizes the opportunity of connecting 99designs’ freelance designers with the 20 million small businesses who use Vistaprint to print signs, banners, business cards and other marketing materials — so they can their design and printing needs handled in one place.
Apparently Vistaprint has already been expanding into design services, with offerings that include a design service that businesses have used for to create custom face masks during the pandemic.
“The driving force behind Vistaprint’s future with 99designs is our passion to help small businesses,” Keane said in a statement. “We know how critical great design is for entrepreneurs on their journey. 99designs and Vistaprint have shared values and vision to be a trusted partner to business owners and creators, which lay the foundation for something bigger and more valuable than either of our teams could create alone.”
The financial terms of the acquisition were not disclosed. Cimpress is publicly-traded, while 99designs has remained private, despite Llewellyn’s plans to go public a couple of years ago. The design company was founded in 2008n and raised a total of $45 million from Accel and Recruit Strategic Partners.
Post by startupsnows.blogspot.com
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