![]() Its capitalization estimate was $10 million. For two years, the startup has developed with its own funds, and in 2011, they got investment from TMT Investments: $3 million for the 27% share. In the same year, Sergeev launched his new project - Depositphotos. The exact value of the deal is still unknown, but the media say $2 million would be too much. The first significant project of Sergeev was the DepositFiles web hosting service. The Executives that participated in the deal have got large bonuses. After closing the deal with VistaPrint, all option holders could realize them. The answer was that all current projects continue their work.ĭepositphotos added that there was an option pool due to EBRD’s investment, and now it is split between the Executives of the company. We also have asked about the fate of the Lightfield studio and Bird In Flight and WAS publishers. The company also plans to expand the VistaCreate 24/7 customer service in all countries and main languages with both live chats and hotlines.” “In Ukraine, there are many talented engineers, product managers, and marketers who can reinforce our teams. The company also confirmed to AIN.UA that they want to hire preferably in Ukraine: ![]() Team in UkraineĪfter the deal, the Ukrainian company plans to extend the personnel and hire workers for Depositphotos and VistaCreate, or other VistaPrint products if needed. If you will make a wrong decision, the risk of loss is too high,” Sergeev said. In my opinion, it looks like a perfect theoretical business scenario of the fusion with a large player to win the market together. I believe that VistaPrint will empower Depositphotos and Crello accordingly. “Apart from the profit, my personal motivation is to give the team and the product a chance not only to solidify their market share but also transform into a competitive product within the short period of time and become a market leader. The Depositphotos team sees here a possibility to strengthen their market share:.For that purpose, they purchased a designer marketplace in October 2020 and recently bought Depositphotos. During that transformation, VistaPrint will develop the full-stack design. For VistaPrint, this deal is a part of their $250-million transformation plan. ![]() But because of waiting for the Ukrainian Anti-Monopoly Committee’s approval, it happened a bit later, on October 1, 2021. The deal was planned to be closed in autumn 2021. There was only one offline meeting in Kyiv with European and American representatives of VistaPrint. The negotiations, due diligence, and closing of the deal took several months - almost all procedures have been done remotely.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |