Printify to expand its marketplace from custom printing with $3 million investment
Printify which is basically an 80 person startup has started to reimage the whole on-demand printing business on its own. Those days are far behind us when all the small merchants used to sell all their customized products in different websites like Cafe Press, Society6, Zazzle and Teespring. With the help of the startup, Printify all the businessmen can create their accessories and designs and then directly sell them on different websites which are popular.
The company Printify was founded by James Berdigans. The founder said to TechCrunch:
“The problem is that these merchants don’t have the capability to build their own brand. At the end of the day, you end up building the Teespring brand, not your own brand.”
Printify has been successfully able to get an investment of $3 million from Bling Capital, which is basically a venture capital fund. The venture capital fund was launched by Ben Ling just five months back. Ben Ling was the former general partner at Khosla Ventures.
“Printify is perfectly positioned to enable the new trend of micro and boutique brands. Consumers and SMBs alike can benefit from Printify’s high quality, low quality and fast printing platform and create their own micro brand.”
This startup was founded in the year 2015 and previously it had raised a $1 million in funding. Initially, the company ended up being very vague with the website pretending to be the manufacturer. According to the founder Berdigans:
“That was a terrible idea. Even though you aren’t lying, you end up not being a very honest company and that’s not the business model we want.”
Printify now is very open and transparent about their business and works on the B2B marketplace with different e-commerce websites. All the tasks such as the fulfillment of orders are also done by the company. The company manufactures, ships and stores, all the products on its own.
The company is now growing in a very fast manner. It can grow about 30 percent every month. This kind of company comes in handy for all the different political parties because, with the help of them, a mini brand can be created. The printing scheme of the company is also fixed, leaving all problems behind for them.
“If you use Zazzle, for example, you only get a small portion of revenue share but on Printify you pay us a small fee. If you were selling t-shirts for $25 and the average production cost is $10 our seller will see a 50 to 60 percent margin.”
A lot of people showed interest in this company and wanted to invest their money here. One of the most important investors for this company was the co-founder of YouTube Steve Chen along with the co-founder of Twitch Kevin Lin and Google AdSense pioneer Gokul Rajaram. Printify media is going to change the game of print on demand industry over the coming years.