Printful and Printify announce merger
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On-demand printing platforms Printful and Printify announced the two companies will merge. Both platforms, which are based in Riga, Latvia, will continue to operate as separate brands. The new combined company will be able to create a business providing greater product selection, broader geographic reach, and improving fulfillment solutions, according to a press release. Both the Printful and Printify brands will be maintained for the foreseeable future, and existing sellers and customers can expect to see new offerings on both platforms soon. Financial terms of the deal are not being disclosed.
“This is an exciting moment for everyone. Printify is a business that we have long respected and I believe that there is a natural fit between the two companies,” says Alex Saltonstall, CEO of Printful. “As our discussions progressed, we found that our cultures are very similar, while our businesses are even more complementary than we initially believed.”
Today the two companies serve hundreds of thousands of clients, including individuals running side-gigs, entrepreneurs creating their own brands, and some of the world’s largest entertainment companies using creative merchandise to engage their fans. This merger will provide e-commerce sellers worldwide with the strengths of both Printful’s in-house production facilities, and Printify’s network of more than 85 third-party production partners.
“Our combined company will give our merchants more. More top-quality products, more places to sell, more innovative solutions, and more growth and profit. We’re also going to be able to provide best in class learning, talent density, and development opportunities for our teams. In recent years, the Latvian tech and entrepreneurial scene has caught up with our neighbors in the Baltics and Eastern Europe. This merger will not only help to crystallize that position but also give us the platform to be a destination for top talent from around Europe and the world,” says Anastasija Oļeiņika, CEO of Printify.
The merged business will become one of Latvia’s most prominent technology companies, contributing significantly to the domestic economy and enhancing Riga’s position as a leading destination for entrepreneurship, innovation, and tech investment. The co-founders of both companies view the merger as the next logical step in their development.
Printful has been on an exciting journey for over ten years now and it’s fantastic to be moving to the next stage of our journey through a merger with Printify,” says Lauris Liberts, co-founder and Chairman of Printful. “Bringing together these two innovative technology and production-on-demand businesses will place us at the forefront of the country’s thriving technology sector and unlock huge growth potential for our company and the region.”
“We have always been focused on driving Printify towards its full potential, and Printful is the perfect partner to allow us to achieve that. It is clear that our businesses are hugely complementary and that this merger will ensure we are in the best possible position to serve our customers, enhance our offering, and grow further in new markets,” adds Jānis Berdigans, Founder and Executive Chairman of Printify.
Printful was founded in 2013 and has taken in $130 million in private equity funding, according to CrunchBase. Printify has raised a total of just over $54 million since being founded back in 2015. Investors include Index Ventures.