LONDON, June 25, 2013 /PRNewswire/ --
- Fast-growing online premium print brand transforms Instagram photographs into quality physical products -
- Significant opportunity for PhotoBox Group to expand product set, market opportunity and geographic reach through acquisition -
PhotoBox Group (the "Group"), Europe's leading provider of personalised products and operator of the PhotoBox and Moonpig.com brands, is pleased to announce the acquisition of StickyGram.com from Mint Digital. StickyGram.com is a fast growing, online premium print brand that leverages Instagram to turn its digital photos into delightful magnets. The acquisition will enhance PhotoBox Group's social and mobile platforms and provide a point of entry for the Group to multiple, new geographic markets, while adding a further, scalable product opportunity to the Group's offering in the personalisation space.
Founded in June 2011 by London-based Mint Digital, StickyGram.com has capitalised on the growing popularity of Instagram and the increasing consumer desire to create physical objects out of digital content, growing rapidly and organically into a profitable business serving multiple international markets. Today the majority of StickyGram.com's revenues are generated in the US, with Brazil and Japan also important markets.
The PhotoBox Group believes that StickyGram.com represents a strong, strategic fit with the Group's existing brands and services, offering the Group multiple and complementary routes to expand StickyGram.com's reach, product portfolio and long-term growth potential.
An enhanced social and mobile platform
One of the major benefits afforded by the StickyGram.com acquisition is the enhanced presence it provides the Group in the mobile and social space. Instagram has established itself as the preeminent mobile photography platform for self-expression and digital photo-sharing. Through its own innovative platform - turning digital moments into fun physical products for further sharing, StickyGram.com has been able to ride the social phenomena and the Group will now seek to strengthen this position further under its control.
The Group will be able to leverage its increased scale and expertise in technology, manufacturing, web-design and merchandising capabilities to help StickyGram.com accelerate its growth plans. In return, StickyGram.com's website, optimised for mobile devices, will significantly enhance the Group's mobile platform as the trend toward shopping via smartphone and tablet continues.
An opportunity for global outreach
In addition, the Group believes that the geographic reach and customer bases of both organisations are highly complementary. StickyGram.com brings experience and presence in exciting international markets such as Asia and South America, currently not served by the Group.
As a consequence of the acquisition, StickyGram.com will also be able to take advantage of the PhotoBox Group's leading market position in Europe to drive growth here: a market where it is currently under-represented.
Financial information about the transaction was not disclosed.
Commenting on the transaction, PhotoBox Group Chief Executive Officer, Stan Laurent, said:
"StickyGram.com is a natural extension to our platform for self-expression. Next to Moonpig and Photobox, it adds a third, profitable and fast-growing global brand to our business with a complete focus on social networks, in particular Instagram, and a leading edge mobile experience. We're looking forward to growing StickyGram.com into a true global market leader for 'social' printing."
Also commenting, Cameron Price, CEO of Mint Digital, added:
"We at Mint Digital are extremely proud of StickyGram, a product that we've worked hard to develop over the past two years. We couldn't be more excited to be working with PhotoBox to massively increase the reach of the StickyGram brand, while continuing to provide its customers with the same level of quality and service that they've come to expect."
For further information please contact:
FTI Consulting, LLP
James Melville-Ross / Matt Dixon / Jon Snowball
SOURCE PhotoBox Group