Printful Revenues Climb 80% During Pandemic

Davis Siksnans, CEO, Printful

US-based Printful Inc., a print on-demand and fulfilment company has received a US$ 130 million investment from private equity firm Bregal Sagemount, giving the digital print business a valuation of more than US$ 1 billion.

The company’s revenue climbed nearly 80% last year, as demand rose for printed goods ordered online.

Printful’s CEO Davis Siksnans comments: “We are experiencing major growth in the e-commerce industry, which is why we have to keep expanding our operations globally. We are honoured to be recognised among the best start-up employers in America, however, now more than ever, we need to keep in mind the importance of maintaining our company culture and take care of our employees.”

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Founded in 2013 in Latvia, Printful offers print-on-demand items using customer-supplied designs, from T-shirts to home décor and promotional gear for businesses. The company integrates with online marketplaces like Etsy Inc., Squarespace Inc. and Shopify Inc., the CEO said.

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Printful, whose headquarters is in Charlotte, N.C., has seen meaningful growth over the past few years. In 2019, the company notched US$ 116 million in revenue, Siksnans said. Over the course of 2020, the company’s revenue rose by almost 80% to more than US$ 200 million, he added.

Recently, it has opened fulfilment centres in Brazil, Texas and California as well as buying 50+ Kornit digital print systems, as it continues its stellar growth trajectory, a reflection of the huge growth in the e-commerce market for digital textile printing.

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