Solo Brands acquires Terra Flame, Shein raises $2B

Dealboard has the latest M&A and funding news from eBay, Emotive.io and more.

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Welcome to Dealboard. In this weekly feature, The Current is providing a look at the mergers, acquisitions and venture capital deals making waves in ecommerce, CPG and retail.

This week, the owner of Solo Stove is adding more indoor warmth, and eBay acquired a digital authentication platform. Plus, investors provided new funding for fast fashion marketplace Shein and a MultiVersal AI startup.

Check out the latest deals:

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Solo Brands acquires TerraFlame

Solo Brands acquired Terra Flame, which aims to “create warm, inviting and ambient spaces around clean burning flame.”

Terra Flame makes indoor fire products that include eco-friendly fireplace fuels and offers fire features to showcase flames. This will join a company that includes the popular Solo Stove and other products.

With the deal, Terra Flame’s team will join Solo, and CEO Lenny Vainberg will become the general manager of Terra Flame.

“We are pleased to welcome TerraFlame to the Solo Brands family and thankful to Gerald Berger, Oleg Berger and Lenny Vainberg for choosing us as the right long-term partner for them,” said John Merris, CEO of Solo Brands, in a statement. “This strategic acquisition complements our brands, and, alongside Solo Stove, allows us to offer our customers the fire burning experience outdoors, and with the addition of TerraFlame, we’re thrilled to bring the fire inside. We hope to leverage our direct-to-consumer and wholesale expertise to support TerraFlame’s growth while also leaning into TerraFlame’s shared passion for product innovation and incredible products to elevate the Solo Brands customer experience.”

Solo Brands is adding to a growing roster that also includes Chubbies, Oru Kayak and ISLE.

Terms of the latest deal were not disclosed.

Shein raises $2B

Shein, the fashion marketplace, raised $2 billion in a new round, according to the Wall Street Journal.

The financing was co-led by Sequoia Capital, General Atlantic and the U.A.E. sovereign-wealth fund Mubadala.

With this round, Shein’s valuation was cut to $66 billion, which was about one-third lower than its previous valuation, WSJ reported. However, it could leave room for the company to raise its valuation in an IPO, though no such offering is planned at this time.

eBay acquires apparel authentication platform

eBay will acquire Centrilogo, a provider of digital IDs and authentication for apparel and fashion. Centrilogo’s platform allows brands to offer consumers a way to confirm authenticity, access reliable information about products, and activate circular services.

"For many years, consumers have turned to eBay as a trusted destination for buying and selling pre-loved apparel and fashion goods, not only because of the unmatched selection, but because of our commitment to utilizing the latest technology to empower our sellers and buyers," said Charis Marquez, VP, eBay, in a statement. "Certilogo's technology and talented team allows eBay to build on this commitment, establishing eBay as a leader in pre-loved fashion, and offering new ways for consumers to connect and engage with brands."

Terms of the deal, which is expected to close in the third quarter, were not disclosed.

Emotive.io acquires Bloom Digital

Emotive.io, a growth platform for ecommerce brands, acquired Bloom Digital, a marketing agency specializing in SMS marketing, email marketing and paid advertising.

With the deal, Emotive.io will launch Emotive Attribution, a product that helps brands optimize marketing spend through use of a first-party pixel. It is also introducing Emotive Services to extend expertise in SMS, email, and advertising revenue growth for ecommerce brands.

"We are thrilled to welcome Bloom Digital to Emotive and launch Emotive Attribution as part of our all-in-one growth platform for eCommerce brands," said Brian Zatulove, CEO of Emotive.io. "This strategic acquisition and product expansion will enable us to provide even more comprehensive and effective solutions for eCommerce merchants, helping them grow throughout the entire funnel."

Terms of the deal were not disclosed.

PRE raises $1M for MultiVersal AI

Ecommerce tech startup PRE secured $1 million in seed funding for a MultiVersal training system that’s designed for testing AI experiences.

The system is designed to create a “bias” toward particular groups of people in order to help brands and retailers determine optimal performance for their sites.

“A key request from our partnered brands has been for the ability to focus our AI on a particular demographic. With MultiVersal training, we can do precisely that,” said PRE Founder Parham Aarabi, in a statement. “We are creating bias to analyze the demographic variability of AI systems, enabling partners with an unprecedented capability for optimizing their e-commerce sites and apps.”

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