Shutterfly, a personalised product manufacturing platform, has paid about $225 million for Spoonflower, a worldwide marketplace for home décor, bespoke fabric, and wallpaper.
According to the business, the move increases the total addressable market and enables Shutterfly to help bridge a gap in the creative economy by utilising its vertically integrated manufacturing infrastructure to provide premium personalised products to millions of creators.
Shutterfly has acquired Spoonflower, the maker of Spoonflower. Shutterfly customers will be able to buy custom designs in the Spoonflower global artist marketplace. The company predicts that the wallpaper will be the most popular item with Millennials and Gen Zers who may be decorating their first home.