The world’s largest retailer will end free shipping for online orders under $50 Canadian starting April 2.
The acquired company sells products from artists.
Content development and social media company Demand Media Inc. has bought Society6, an online marketplace where artists list such items as prints, iPhone cases and apparel. Demand Media says the deal is worth about $94 million, including $75 million in cash and $19 million in stock.
Launched in 2009, Society6 offers some 100 million SKUs and has 300,000 members, Demand Media says. The acquired company produces products on demand and handles shipping. Society6 took in about $15 million in revenue for the year ended Dec. 31 2012, along with $4 million in operating income.
Demand Media says it attracts at least 100 million unique global visitors to such web properties as advice site eHow.com and humor site Cracked.com.
“We intend to expand Society6 by offering their unique marketplace to our existing media audience,” says Richard Rosenblatt, chairman and CEO of Demand Media. “In addition, we plan to leverage our expertise in managing content creation platforms, our experience in building creator communities, and our significant engineering and product resources to further drive Society6’s scale and growth.”