June 3, 2013

Fashion website uses technology acquisition to stay competitive

The fashion and technology worlds actually have more in common than one might think. Both tend to evolve at a fast pace, and it is essential to stay ahead of the competition in order to continue offering the latest product to customers.

Refinery29, a style and beauty website, made a technology acquisition to strengthen what it is able to offer in a social media and mobile platform. According to a company press release, Refinery29 announced this week that it had acquired Socialbomb, a creative technology studio.

More specifically, Socialbomb will use interactive software to help Refinery29 design a new social platform, a strong web presence and even user-generated content through massively scalable, distributed software platforms.

"Socialbomb is an innovative digital agency with a track record of creating best-in-class mobile campaigns and brand experiences," Philippe von Borries, CEO and co-founder of Refinery29, said in a press release. "As Refinery29 continues to expand its product offering in social and mobile, there was no better time to bring the Socialbomb team on board to push the boundaries of our vision for a 21st century digital media brand."

Scott Varland, co-Founder of Socialbomb, said in the press release that his company is thrilled to join Refinery29 as it makes this adjustment in their business layout. Varland added that he is excited to help customers revolutionize the ways they "discover, consume and enjoy all things fashionable."

Technology focused M&A activity can help businesses that are not originally tech-centered evolve and move forward in an increasingly digital world. As these two companies have shown, technology mergers or acquisitions will bring two organizations together that have a common goal and want to offer more to their customers.