Redbubble Raises $15.5 Million
Monday (20/05/15) (www.businesswire.com) Redbubble, the leading online marketplace for artist designed products, has raised $15.5 million from a consortium of institutional investors in an oversubscribed capital raising. Investors include Melbourne-based Acorn Capital, and Piton Capital, the London-based specialist marketplace investor. These institutions join current high-profile, high-net-worth investors including Simon Baker, Michael Birch, Stan Chudnovsky, Su-Ming Wong and Simon Yencken.
Redbubble hosts 14 million unique images that can be printed on a diverse collection of products, including apparel, homewares, fashion and technology accessories, and wall art. In 2014, more than 1.2 million customers shopped on Redbubble and more than 60,000 artists made sales. It has a global customer base with more than 90% of sales from outside Australia. The company is tracking to over $100 million in sales for CY15 and has staff evenly spread in Melbourne and San Francisco offices. Since inception, artists have earned over $30 million through the Redbubble marketplace. Redbubble founder and CEO, Martin Hosking, said, “We are delighted to have closed the round with such strong institutional investors. The funds will allow us to service the growing consumer wave for personally relevant and creative products and accelerate our product rollout and plans for further international expansion.”
Redbubble is an online marketplace where people can shop for lifestyle products featuring work from independent artists and designers worldwide. Hosting over 14 million pieces of art, Redbubble brings the creativity of independent artists to life on products ranging from apparel and art to technology and home decor. Leading-edge print-on-demand technology enables production individually for each consumer as they order. Launched in 2007, Redbubble is headquartered in Melbourne, Australia with a U.S. base in the Bay Area.