Today Bracket, the company behind Stores.jp, announced that it has been acquired by Start Today. Start Today is, of course, the operator of Japanese fashion commerce giant Zozotown. Since news of the acquisition was released a few hours ago, it has dominated social feeds here in Japan.
Bracket was founded back in October of 2008, and the company operates several online services including a C2C car sharing site Cafore and custom made ladies shoes service, Shoes of Prey.
Stores.jp lets users to make their own online shop in matter of minutes for a monthly fee of 980 yen (about $10). Since it launched back in September of 2012, it has been used to create more than 40,000 online stores to date, and that is projected to surpass 100,000 by the end of this year. Considering that 70% of stores on Stores.jp are fashion related, it makes sense for the company to choose Start Today as a partner. ...continue reading ...
Sd 7/16/2013 [en]
- The valuation for the acquisition is around $6.5 million. Considering the number of stores on Store.jp and other services which could also add value to Zozotown, it may be a good deal for both of companies, particularly for Zozotown.