SurfStitch buys Stab Magazine and Magicseaweed
Six months after Surfing Life magazine was bought by a publishing house comes news that another independent surf title has been scooped up, and the buyer comes straight out of left field. This morning, SurfStitch, the online clothing shop, acquired both STAB magazine and UK surf forecasters Magicseaweed.
The Australian Financial Review is reporting that SurfStitch paid $13.8 million in cash plus shares for the two companies. SurfStitch investors raised $37.5 million to pay for the acquisitions and "other growth options."
"These highly complementary acquisitions represent the voice of SurfStitch's core audience," said SurfStitch co-founder to the AFR, "connecting us with our customers and providing us greater insight into their preferences, influences and purchasing behaviour."
STAB's operation is more akin to a creative agency than a magazine. In their media kit they call themselves "the ideas factory", working with advertisers to "leverage your voice within the market to deliver creative and experimental marketing." In press release parlance STAB and SurfStitch are a natural fit.
The Magicseaweed acquisition appears something altogether different. Although they're Europe's most popular forecast site it's likely that SurfStitch bought MSW on the strength of their online shop. By purchasing their UK competition SurfStitch further consolidate their regional marketshare.
Comments
If they purchase magic seaweed I hope they do a better job of surfs heights than
MSW do now. What a joke!
I actually prefer them
$20 and a pack of darts for swellnet?
Stab magazine - 'a creative agency','ideas factory','creative and experimental marketing' - by which I can only guess they mean the genius formula of, 'sex sells' they've come up with.
Bogan surfers mag!
Yeah who actually buys or reads STAB magazine anyway? I'm surprised it still exists, bit of a waste of money for Surfstitch buying that rag I reckon.
It is their online traffic that they are interested in i.e. STAB's website.
reading the comments in the articles is excellent for a laugh.
I thought they would be interested in the cross promotion (links), eyeballs and clicks going through STAB site, (i.e.'flow on' traffic, links, etc.), and primarily the data that is collected that can be used to various purposes?
You seem to know better, Thomas. What do you think?
Wouldn't have the slightest clue clif.
I dont have any experience or knowledge when it comes to online marketing so im not going to pretend I do.
As i said, i go there to read the comments, can be brutal and very funny at times.
Oh, I see what you mean i.e. STAB articles. I thought you meant this article. Whoops.
ahaha nah, this website actually contains people with brains posting with education (mostly).
Stab is full of the kind of people who like to swear alot, the racism over there is through the roof, pretty funny at times as I have said a few times now.
Its troll city also.
yeah us SN readers are a very sophisticated group of surfers........hehe
With rising rents and companies like Surfstitch eating into local surf stores’ ability to trade profitably there has to be a better way to keep the ecosystem of grass roots stores competitive in the modern eCommerce world.
The stores we loved hanging out in as kids wont be around much longer as large corporates scoop up news, surf forecasts and retailing. Where will be buy our wax, who will support the grass roots surf communities, and stores that support young grommets and the local scene?
There needs to be an authentic alternative that supports grass roots, local store owners and puts something back into the culture that has created the board sports industry.
Recently I took out some office space in Thirroul and realised I'd stumbled into what seems to be a solution to that problem. The office space is above Finbox surf store. Or more accurately it's above Finbox cafe which is attached the to the surf store, because above the store is the gallery and artists room. Between all four areas - the office space for 'creatives', gallery and music room, cafe, and surf store - an ecosystem that transcends the bog standard shop has been created.
I'm a little to old to 'hang' at surf stores but there's a hell of a lot that goes on at Finbox: bands, art shows, talks (Eric Arakawa spoke on Monday), and of course the bean juice. It's a thriving li'l hub, and it might just be the secret to the survival of small surf stores.
Yep. What a nice place to work.
So jealous haha.
Always room for you Clif.
...so, how'd you go making a long black?
@stunet Finbox is the future for sure.
Get the guys to check out globalboardsports.com Artists can sell their work, local stores can sell products and local events can be promoted for free.
Many local stores are signed up already.
#supportindependents
Finbox has both the best and quickest coffee in Thirroul
and a good surfshop as well