Bloglovin’ acquires Finale to hire CEO
One reason why companies merge and/or acquire smaller entities is to improve leadership on both sides. If your startup is on the verge of capitalizing through ecommerce or other sales, it's possible that current leadership doesn't have the expertise to bridge the transition. Leadership consultants can be expensive and don't add human resources value to a company in the long run, whereas an acquisition can bring aboard full-time executives who are committed to advancing the enterprise.
This week, it was announced that Bloglovin', a blog reading platform, acquired social shopping startup called Finale. According to TechCrunch, this was in large part due to the firm's leader, Giordano Bruno Contestabile, who will become the new CEO of Bloglovin'.
"It's the perfect time to bring in leadership with deep experience in e-commerce and mobile, and we are looking forward to rolling out new revenue opportunities for our bloggers, while enabling our users to shop as they read," Swenson said in the hiring press release.
Currently, Bloglovin' boasts 600,000 content creators and 20 million monthly visitors on its platform, and plans to leverage their attention to fashion, beauty, home decor, food, travel and other lifestyle material into a purchasing model. Most recently, Joy Marcus was at the helm of Bloglovin' but according to reports, she recently vacated the role for a position at Condé Nast. To fill that leadership void, Bloglovin' looked to Contestabile and his startup.
If your company is looking for a leadership boost, new revenue channels or a wider market reach, a merger or acquisition might be the solution. With the guidance of an M&A advisor, your company can position itself to meet those objectives by securing a satisfying deal.