Shopify has acquired Threads.com, the Seqiuoa-backed Slack alternative, Threads said on its website. The companies did not disclose terms of the deal but said the Threads.com team will join Shopify.
After the launch of Meta’s social network with the same name last year, the startup “had the opportunity to sell its domains,” Threads added. It’s unclear whether the startup sold the domain name to Meta, Shopify, or someone else, but the note indicates that it would have had to rebrand from Threads if it had remained independent. We’ve reached out to all of these companies, and we’ll update the story if we hear back.
Threads.com launched its product in 2019 with $10.5 million in funding from Stealth. It was thrust into the limelight after Meta launched its own Twitter-like social network, Threads. Notably, Meta also had another product called Threads, an Instagram companion app that launched in 2019 and was discontinued in 2021.
The Threads.com team said that when Meta’s social network was booming, few companies approached the startup to acquire it. Ultimately, he chose Shopify, he said, for the opportunity to “tinker at scale.”
“Around the same time [when Threads.com was considering selling the domain], a handful of companies approached us, wondering if we would be open to an acquisition. When this happened in the past, we would politely decline. However, this time, things were different,” the company said in the post. Now a commodity, we were excited about joining a space where we could tinker at scale.”
Last year, Meta chose to use Threads.net because Threads, a business communications startup, was already owned by Threads.com. However, many users still visited the .com website and realized it wasn’t the social network they were looking for before even downloading the startup’s app.
At the time, Threads.com’s app saw 880,000 downloads globally on iOS alone between July 6 and July 12, according to data from analytics firm data.ai. Meta is launching its Threads social network.
“Threads is a powerful word and an Internet term,” Threads co-founder and CEO Rousseau’s workwho worked at Facebook for six years, said in a statement released to TechCrunch last year.
“Using threads on different platforms is a great way to stay connected. [.net]work or [.com]pany Given this, it is no surprise that Meta chose a powerful label to represent his opinion in the construction of the city square.
Shopify CEO Tobi Lutke welcomed Kazi and his team but did not say how it plans to integrate the product within Shopify.
Credit : techcrunch.com
