Social Chain has merged with German retailer Lumaland in a deal which sees the UK agency become a public company named THE SOCIAL CHAIN AG and listed on the Dusseldorf Stock Exchange.
The merger means the group now has access to 1.8 billion people per month through the combined reach of its social media channels, with the new company valued at €186 million. Lumaland, a retailer specialising in mattresses and beanbags, saw revenues of €90 million last year, while the THE SOCIAL CHAIN AG says it can now combine its social media reach with social commerce expertise.
The headquarters for the newly-merged company will be in Berlin, with additional offices in Manchester - where Social Chain was founded by Steven Bartlett and Dominic McGregor - as well as London, New York and Munich.
The Social Chain agency boasts numerous clients within sport, including FIFA and SkyBet. Their channel SPORF counts over 14.7 million followers across its digital channels and was founded by Nick Speakman a Sport Industry NextGen alumnus along with Social Chain Head of Sport Richard Johnson.
Bartlett, along with Holger Hansen and Wanja Oberhof, will jointly manage THE SOCIAL CHAIN AG, while Georg Kofler, CEO of German media companies ProSieben and Premiere, will take on the role of Supervisory Board Chairman.
Bartlett said: “In the early years of Social Chain we differentiated ourselves from our immediate competition through a disruptive approach to social media. As digital natives, we saw the potential of social media beyond what it was being used for at the time. Our success has shown what big thinking, and reimaging conventional business models can achieve. We’re now using our experience and our existing ecosystem to integrate our very own brands, which we call Social Media Brands.”