Karmaloop, one of the largest online retailers of streetwear, announced it has acquired South Florida-based Soletron, a leader in content generation for the youth market. Terms of the deal were not disclosed.
Soletron was founded in 2010 by A.J. Steigman and Shane Robinson, former investment bankers, as a streetwear ecommerce and social media platform for "sneakerheads." It changed course in 2012 and became a full content model for its target market of men aged 18-35. Soletron has generated tens-of-thousands of blog articles – up to 2,000 a month - through its global network of freelance writers and it reaches a few million monthly in page views and unique visitors, said Steigman, Soletron’s CEO. Content partnerships include Nike, Adidas, Reebok, UnderArmour and FootLocker, he added.
“Karmaloop was the pioneer of our space, and is such a global powerhouse. … We are looking forward to really disrupting this vertical with our existing content network and custom built technological tracking software,” said Steigman, Soletron’s CEO.
Soletron, a team of about 10 based in Parkland, was backed by Canrock Ventures and Easton Capital, and its advisory board included former CEO of Adobe Bruce Chizen, Superbowl MVP Santonio Holmes and co-founder of AND1 Basketball Tom Austin, among others.
“The Verge generation (first generation to grow up on internet, highly influential alpha consumers) has a voracious appetite for content, and Karmaloop is excited to be further expanding into the content creation arena… Soletron’s article production capabilities, its genuine editorial voice, and its competitive cost structure will allow Karmaloop to become a content destination for our respective community,” said Karmaloop CEO Greg Selkoe in a press release.