Smartbox Group Acquires Nordic Experiences Platform Truestory
Key Points
- Smartbox Group has acquired the Nordic experiences platform Truestory to enhance its presence in Norway and Sweden.
- Truestory will continue to operate under its current brand, offering around 1,000 experiences from over 600 hosts.
- Smartbox Group, present in nine European countries, sells 7 million experience gifts annually, valued at approximately $547 million.
Summary
Smartbox Group has acquired Truestory, a Nordic experiences platform, as part of its strategy to strengthen its presence in Norway and Sweden. Truestory will continue to operate under its brand, providing around 1,000 experiences from more than 600 hosts. This acquisition aligns with Smartbox Group's extensive operations across nine European countries, where it sells 7 million experience gifts each year, valued at $547 million.
European-based experience gift platform Smartbox Group has acquired the Scandinavian experiences platform Truestory.
Lasse Kjær, founder of Truestory, announced the acquisition in a LinkedIn post, stating the Nordic-centred experiences platform, with some "1,000 live experiences from more than 600 hosts", now had a "new owner who wants to invest in Truestory to redeem the long-term potential of the business."
Skift reached out to Kjær for specific details on the sale, but he stated he was "unable to share the value of the acquisition right now."
Truestory would continue to operate under the same brand as the site's users know it, specifically strengthening Smartbox Group's position in the Nordic countries of Norway and Sweden, René Drewsen, Cluster Director Nordic at Smartbox Group, said in a statement.
Founded in 2003, the Smartbox Group is present in nine European countries and claims it sells 7 million experience gifts worth an estimated $547 million annually. The company works with "40,000 European partners, distributing through 18,000 retail stores, supermarkets, websites, and online retailers."
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