Flip Acquires Curated for $330 Million in Stock
July 09 2024 - 8:30AM
Business Wire
Strategic Acquisition Bolsters Flip's
People-Centric Shopping Model by Providing Authentic,
Human-generated, and Personalized Shopping Experiences
Today, Flip, the fast-growing social commerce platform that
enhances shopping with user-generated videos, announces its
acquisition of Curated, the leading marketplace that connects
consumers with verified experts for personalized advice on
high-value purchases, for $330 million in stock. Curated’s CEO
Eduardo Vivas will join Flip as the Chief Operating Officer (COO),
aligning the leadership of both companies. This strategic deal
cements Flip's position as the leader in social commerce, with its
unique people-powered shopping model rapidly gaining popularity and
propelling the company to growth.
Both Flip and Curated have experienced rapid growth, and the
acquisition is projected to more than double last year’s combined
revenues. Flip, a pioneer in community-driven shopping, offers a
TikTok-like video discovery experience, allowing users to shop
through short, engaging videos and earn rewards by creating video
reviews. The company’s robust growth is fueled by the continuous
introduction of innovative app features and a recent $144 million
Series C funding round. Curated links consumers with trusted
specialists, providing personalized advice for significant
purchases and ensuring reliable, well-informed guidance.
Both platforms prioritize human interaction, with Flip
leveraging user-generated videos to build authenticity and
credibility, fostering an engaging community where customers become
influencers. Curated offers expert consultations for personalized
service, ensuring customers receive tailored, high-quality advice
for their purchases, such as golf clubs or a new set of skis.
Acquiring Curated allows Flip to expand into the specialty market,
particularly for high-consideration purchases that benefit from
expert advice.
“With the acquisition of Curated, we are accelerating our
strategy to reshape e-commerce by emphasizing authentic human
interaction and high-quality products,” said Noor Agha, CEO of
Flip. “In an age where most shopping platforms rely heavily on
algorithms, our focus remains on creating a people-powered shopping
experience that fosters genuine connections and personalized
recommendations, ensuring our customers receive the best possible
guidance and satisfaction.”
Flip and Curated are dedicated to high-quality products from
reputable brands, avoiding knock-offs and subpar merchandise. This
commitment to quality ensures customers can shop confidently,
knowing they are purchasing genuine, top-tier products. Both
companies' focus on quality builds trust and loyalty among their
customers.
Curated will operate independently with continued investment to
grow the platform, enhancing Flip's product offering and providing
a seamless, trusted shopping experience while preserving its unique
business model and customer relationships.
“By combining our strengths, we are committed to ensuring an
honest and genuine shopping experience, powered by individuals who
are passionate about sharing what they love,” added Eduardo Vivas.
“Together, we will continue to champion authentic recommendations
and create a vibrant, community-driven marketplace.”
To learn more, visit www.flip.shop or download the Flip app on
iOS or Android.
About Flip (Humans, Inc.)
Flip is building the next-generation shopping social network for
people to shop through other people. With a growing community of
shoppers sharing video reviews of products they've purchased on the
platform, buyers can discover products through 60 second videos of
user-generated content that is instantly shoppable with a one-click
checkout and same day shipping. Every shopper can then become a
creator by sharing their own reviews and monetizing their content.
To learn more, visit www.flip.shop or download the Flip app on iOS
or Android.
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