The e-retailer has raised more than $44 million through its IPO.
Thad Rueter , Senior Editor
CafePress Inc. said this week it will move its global headquarters to Louisville, KY, from California, and also add 185,000 square feet to the web-only retailer’s 140,000 square foot production facility in that state.
Only CafePress Inc. is moving to Kentucky, a spokesman for the e-retailer says. Related brands, including CafePress.com, Canvas on Demand and LogoSportswear, are not moving; the headquarters for CafePress.com will remain in San Mateo, CA. “Bob Marino, our CEO, is located in Kentucky,” the spokesman says, “and it is the location of our largest production facility, and it is our most central location.”
CafePress.com, which lets customers customize products such as T-shirts, coffee mugs and baby clothes, is No. 122 in the Internet Retailer Top 500 Guide.
The Kentucky moves come after the retailer in late March made its initial public offer. CafePress says that it put up 4.5 million shares at $19 each—or, up to $85.5 million, less the cost for underwriters. As of today, the IPO has raised nearly $44.2 million before expenses, the spokesman says.
In Kentucky, the moves represent a $16.5 million investment, CafePress says. The e-retailer expects to create 592 full-time jobs in the state over the next decade. CafePress has operated a production facility in Kentucky since 2005. "Today marks a continued commitment to our relationship with the great state of Kentucky as we bring our global headquarters to Louisville and cement the path to new jobs," says Marino. "And, this move makes CafePress the first publicly traded e-commerce company to be headquartered in the commonwealth."
At the Internet Retailer Conference & Exhibition 2012 in Chicago next month, Josh Goldman, general partner, Norwest, and Steven Pho, head of business development, WhaleShark Media (RetailMeNot.com), will speak in a session entitled “Striking the right deal when you go for funding.”