Tictail was acquired by Shopify.
Tictail, a Stockholm, Sweden-based company providing a social shopping and DIY ecommerce community, announced that it was acquired by American company Shopify.
No details or other financial specifics of the agreement were officially disclosed, as the news was broken by local Swedish media. The announcement was made by Tictail directly to its users, as the company informed that its service will no longer be available after April 1, 2019.
Tictail was founded in 2011 by Carl W Rivera, Kaj Drobin, Siavash Ghorbani and Birk Nilsson with the aim to build a DIY e-commerce platform and a social shopping experience for buyers.
In 2016, Tictail announced restructuring of its operations and laying off 10 of 76 employees, a few months after raising money. The organisation has offices in both Stockholm and New York, and the Swedish company reported a turnover of SEK 8.7 million ($1M) in 2017 and a loss of SEK 45.5 million for the last fiscal year.