News was in last week that in a deal worth at least £7.7 million, British entrepreneur and Dragons’ Den host Steven Bartlett’s social media agency Social Chain is set to be sold. Reportedly, a deal was struck by London-based social media and digital media company Brave Bison, for the acquisition of the company.
According to Brave Bison, social media advertising revenues are expected to increase by £15 million as a result of the purchase of Social Chain.
Social Chain was founded by Bartlett in Manchester in 2014. As CEO of Social Chain, he stepped down in 2020. It is unknown whether he retained a stake in the company or would benefit from any future sale. Meanwhile, as part of a reverse merger with German online retailer Lumaland, Social Chain AG became public in 2019.
Further, as an influencer marketing company, Social Chain works with clients including Amazon, TikTok, Apple Beats, and TikTok to create social media advertising campaigns. With offices in Manchester, London, and New York, the company employs 122 people.
Last week I was informed that Social Chain AG – was selling off part of the original agency business that I started in 2014.
I've had so many questions about what this means, what's being sold and where this leaves Social Chain AG, so I wanted to clarify.: pic.twitter.com/AnzDdLHIps
— Steven Bartlett (@StevenBartlett) February 5, 2023
The chairman of Brave Bison, Oliver Green reportedly said, “We’ve long admired Social Chain, and we’re delighted by the highly relevant clients it brings.”
According to Bartlett, Social Chain AG acquired over 30 companies by 2019 which were at least five marketing agencies and about twenty ecommerce businesses.
Recently, Steven Bartlett, who’s also the host of ‘The Diary of a CEO’ podcast and BBC Dragons’ Den, announced the launch of his new $100M Flight Story Fund. The announcement comes over six months after his Web3 startup Thirdweb raised $24M in Series A funding at a $160M valuation.
In addition to running several companies, the 30-year-old published a book called Happy Sexy Millionaire: Unexpected Truths about Fulfillment, Love, and Success. In 2021, he made around $1.2 million from his podcast – Diary of a CEO.
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