Drip Buys Pop-up Builder Company Sleeknote
The acquisition was completed through a combination of cash and equity. The companies aren’t disclosing any other specific financial terms of the agreement.
Drip gathers and organizes customer data, and then enables e-commerce retailers to use that data to make personalized customer marketing.
“With the power of Sleeknote, Drip customers will be able to convert more website visitors into first and repeat purchasers,” CEO John Tedesco said in a release announcing the acquisition. “Sleeknote’s high-performing forms and onsite conversion tools for upsells, cross-sells, and promotions have been used by thousands of customers across the world. By bringing their tools directly into the Drip platform, brands will be able to own their customer data and personalize the customer experience across channels.”
Drip was acquired in 2016 by Leadpages, which was subsequently sold in 2020. At that time of acquisition, Drip had eight employees, 1,000 customers, and $1 million in revenue.
Today, the company has 150 employees, 10,000 customers, and more than $25 million in revenue. Drip has generated more than $2 billion in sales for e-commerce brands by delivering personalized email and short message services (SMS) through its marketing automation platform.
Looking ahead, Drip’s CEO says the company is looking to better understand its customer base. The company is also hiring.