Bulu Marketplace, a division of Lincoln-based startup Bulu Box, announced on Thursday that it is being acquired for an undisclosed amount by an international company building its retail portfolio of software services.
“An acquisition of Bulu Marketplace by an international leader in retail technology is a win for the Bulu Box team, and we think it’s a win for the region. Anytime we #BangTheDrum and can bring attention to the incredible community in Lincoln and in the Midwest, that attention can move the needle for us all,” said Bulu Box Co-Founder and CEO, Paul Jarrett.
Launched in 2015, Bulu Marketplace is a platform for retailers to discover the newest and best consumer packaged goods.
“We built Bulu Marketplace for companies that provided products in subscription boxes to connect with retail buyers and find the right shelves for their products,” said Jarrett.
Founded in 2011, Bulu Box will continue to operate their subscription box service on BuluBox.com. In addition, the company began consulting and executing successful private label subscription box services for select partners. A recent profile in NutraIngredients-USA identifies Bulu Box as a “Turnkey Subscription Box Solution.”
“As our company focused on our core strength of building and rebuilding subscription box programs for other businesses, this acquisition was the perfect move,” said Jarrett. “It’s fantastic to watch Bulu Marketplace evolve while Bulu Box continues to pioneer the subscription box industry.”
— Silicon Prairie News (@SiliconPrairie) June 22, 2017
This announcement comes on the heels of Paul Jarret’s talk at the first ever I/O Summit in Lincoln, Nebraska on Wednesday, June 21st. During his time on stage, Paul shared lessons learned at Bulu Box with an audience of startups and corporate innovators. One of those lessons learned was to focus on what you do best.
“We built an amazing product in Bulu Marketplace, but that product isn’t within the Bulu Box core focus of building subscription box programs. Selling the Bulu Marketplace division gives our team the capacity to continue growing turnkey subscription box solutions for our partners,” said Bulu Box Co-Founder and CMO Stephanie Jarrett.
The company was awarded Silicon Prairie Awards for Best Creation and Designer of the Year in 2014, as well as Startup of the Year in 2017 as voted by the Silicon Prairie Community.
Brian Lee is the Managing Director of Silicon Prairie News and Big Omaha.