Karmaloop buys VC-backed Soletron

Karmaloop has acquired Soletron, a content platform for the youth community. No financial terms were disclosed. Soletron was backed by Canrock Ventures and Easton Capital.

PRESS RELEASE

Boston, MA (PRWEB) July 07, 2014

Karmaloop today announced its acquisition of Soletron, a leader in content generation for the youth community, for an undisclosed amount.

Soletron was founded in 2010 by A.J. Steigman & Shane Robinson as a streetwear ecommerce platform and pivoted in 2012 to a full content model. Soletron was venture backed by Canrock Ventures & Easton Capital. Its advisory board consisted of: the former CEO of Adobe Bruce Chizen, Supebowl MVP Santonio Holmes, superangel Jim Estill from Canrock Ventures, co-founder of AND1 Basketball Tom Austin, Easton Capital founding partner John Friedman, and managing partner of Tangent Capital, Bob Rice.

Soletron is a leader in content generation for young men 18-35, and has generated tens-of-thousands of unique blog articles through its international network of writers. With hundreds of thousands of social followers, and millions of unique visitors globally, it is considered one of the preeminent destinations for cutting edge street wear culture and convers a variety of topic germaine to this lifestyle.

Karmaloop, one of the initial pioneers of combining ecommerce and content, reinforces its commitment to providing a truly authentic destination for the Verge Culture (First generation to grow up on internet, highly influential alpha consumers). Karmaloop CEO Greg Selkoe says, “The Verge generation has a voracious appetite for content, and Karmaloop is excited to be further expanding into the content creation arena.”

Selkoe further comments that, “with our acquisition of Soletron, and their authentic editorial voice, we will be able to feed that hunger, and make Karmaloop not only the eCommerce destination for the Verge, but also their source for content consumption as well. Soletron’s article production capabilities, its genuine editorial voice, and its competitive cost structure will allow Karmaloop to become a content destination for our respective community. Soletron’s origins were in streetwear, and we are pleased to partner with Founder & CEO A.J. Steigman on this content initiative. He is a brilliant entrepreneur who has been able to do wonders and build a well-oiled production machine on very limited resources. We are looking forward to the Soletron team really shaking things up in the content generation arena.”

Soletron CEO A.J. Steigman says, “the Soletron team is honored to have its brand acquired by the industry leader and be able to build this content platform under the Karmaloop umbrella. Karmaloop was the pioneer of our space, and is such a global powerhouse. The ability to work with Greg and his team is a dream come true, and we are looking forward to really disrupting this vertical with our existing content network and custom built technological tracking software.”

About Karmaloop.com
Founded by Greg Selkoe in 2000 and headquartered in Boston, MA, with an office and TV studio in New York City, and offices in Los Angeles and Copenhagen, Karmaloop.com is one of the world’s largest and most-respected online retailers of Streetwear. The company is anchored by its multi-platform retail website and lifestyle network, which attracts more than 4.5 million unique monthly visitors and includes both retail shopping, and original video and blog content. Karmaloop.com sells over 500 men’s and women’s brands to their loyal Verge Culture customer base spanning 80 countries. Verge Culture is made up of the first generation to grow up on the Internet; it’s a group that does not define itself by race or ethnicity, but by shared ideas and values. Verge Culture members are alpha-consumers, always craving the latest fashions and products.

 

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