Thrillist has acquired Gilt Groupe-for-dudes site JackThreads.
The deal moves Thrillist, the NYC-based email-newsletter-for-dudes startup, into the e-commerce market. Previously, Thrillist has generated revenue through ads and sponsorships in its emails and on its website.
We understand this was a relatively small deal — less than $10 million in cash and stock — to acquire JackThreads’ team, technology, and relationships with vendors, which can then be plugged into Thrillist’s audience.
JackThreads founder and CEO Jason Ross will continue to run the site from Columbus, OH, where his team and fulfillment centre is based.
Here’s the release:
Thrillist Makes Move Into Commerce; Acquires JackThreads
Thrillist.com, the leading men’s digital lifestyle publication, has acquired members-only online retailer JackThreads.com, expanding Thrillist’s footprint into e-commerce. Thrillist will now offer its user base exclusive access to JackThreads’ private shopping community as an added benefit to subscribing.
“This is a win-win for Thrillist and JackThreads, and with so much happening in the online commerce space, we feel like our timing is perfect. JackThreads has done a spectacular job forging strong relationships with casual-wear brands, and we’re excited to leverage these connections to benefit our readers. We’re particularly impressed with the infrastructure that Jason and his team have created and see e-commerce as an exciting ancillary revenue stream for Thrillist with lots of potential,” said Ben Lerer, Co-founder and CEO of Thrillist.
“Joining forces with Thrillist is the opportunity of a lifetime. Combining the supplier/brand relationships of JackThreads with the exclusive audience of Thrillist creates a game-changing partnership within the men’s media landscape,” said Jason Ross, Founder and CEO of JackThreads.