Photo sharing and personalized products creation company Shutterfly announced Tuesday (Aug. 10) it has completed its acquisition of custom fabric, wallpaper and home décor retailer Spoonflower for about $225 million.
The deal “will increase the depth and breadth of what people can create, customize and buy on the Shutterfly platform including wallpaper, fabric and home décor,” according to the announcement. It will also help Shutterfly’s 21 million active users connect with a million designs by 3.3 million independent artists, creators and businesses on the Spoonflower global platform. Spoonflower artists upload an average of 4,000 designs a day.
“At Shutterfly, we believe that anyone can be a creator,” Shutterfly CEO Hilary Schneider said in the announcement. “This strategic acquisition helps us expand our lens on creativity to include not only photo personalization but also a full range of custom designs created by independent artists.”
Shutterfly is working on a plan to go public through a deal with special purpose acquisition company Apollo Global Management.
The acquisition of Durham, N.C.-based Spoonflower gives Shutterfly more of a foothold in the $2.25 trillion creative economy, expanding its supply chain, manufacturing and technology capabilities and providing the ability to offer new products to their customers.
Shutterfly customers will now be able to buy custom designs or customize products that incorporate designs by Spoonflower’s artist portfolio and those designers will be able to sell their designs on Shutterfly and other related platforms.
“We’re thrilled to join the Shutterfly family because we found the perfect fit for our business, products, team and community as we work together to address the growing market opportunity,” Spoonflower General Manager Michael Jones said in the announcement.
“We are excited about the opportunity to offer Shutterfly customers a wider assortment of custom-designed products like wallpaper, fabrics, linens and bedding and to connect them with Spoonflower’s community of artists, while enabling our makers to scale their business as a direct result of Shutterfly’s vast manufacturing capabilities and expertise,” he said.