Fast-Growing Blitsy Gains Largest Investor To Date With German Media Giant Burda
Chicago Native E-Commerce Company to Continue Worldwide Expansion
1/25/2016 – Chicago – The Germany-based media group Hubert Burda Media has led the $6.2 million Series B round of funding for the online arts and crafts hub Blitsy. In addition to Burda, existing investors Greycroft Partners, Data Point Capital and Chicago Ventures have decided to provide additional capital for Blitsy. The Chicago-based startup is the most modern and comprehensive site for crafters looking to buy the supplies they need to turn ideas into finished projects. Blitsy also provides videos and live-streaming content featuring creators from every arts and crafts category.
Founded in 2011, Blitsy’s ability to excite its customers has led to impressive revenue growth with a customer repurchase rate approaching 90 percent. Blitsy sells to crafters in more than 70 countries.
With the support of its partners, Blitsy aims to spend the next few years growing into one of the world’s leading online retailers in the arts and crafts industry. Martin Weiss, responsible for all M&A business at Burda, explains the latest investment: “Arts and crafts is an exciting market worldwide, with plenty of untapped potential. With decades of experience in fashion and creativity, Burda is an ideal partner to support Blitsy’s international growth. We were won over by its business model, technology and its experienced and dedicated team.”
Ross Petersen, CEO and one of Blitsy’s founders, said, “Crafting is part of Burda’s DNA. We are impressed that the creative magazine Burda Style inspires millions of women around the world, and they know our target audience inside and out. We are thrilled to partner with a world-class investor who understands the importance of digital expansion.”
About Hubert Burda Media
Responsible for over 400 print and digital consumer brands, Hubert Burda Media is one of Germany’s largest media groups. A strong focus on its digital portfolio and the international media market has been powering growth for several years. Innovation is the driving force behind the organization, which builds on its original roots and values as a family-owned company. It publishes more than 320 magazines around the globe. Burda’s digital business contains successful, expanding companies that include E-commerce and marketing platforms along with rating and agency portals and holdings in social media sites. Burda has 165 million users, approximately 40 million paying consumers and 43,000 advertisers. Its commercial success is driven by some 10,000 employees around the world: Burda is active in 19 markets, above all in Germany, Europe, the United States and Asia.
The Chicago-based start-up is the most modern and comprehensive site for crafters and do-it-yourself enthusiasts alike. Blitsy, a leading arts and crafts E-commerce company, is known internationally for creating upbeat videos and live streaming content to inspire future projects and offer premium craft supplies at competitive prices. For more information visit blitsy.com.