Threads accepted a buyout offer from Shopify to merge the team with the company. Shopify acquired  the Sequoia-backed startup, threads. The deals and amount of acquisition are not yet disclosed by the  companies however, the startup mentioned on its website about the team joining hands with Shopify. 

Thread mentioned that they were planning to sell domains after they launched Meta’s social network last year. TechCrunch mentioned that the startup previously raised $10.5 million in its funding round  held in 2019. The company also mentioned that a few companies reached out to them previously but  they politely declined. This time the company eventually signed a deal with Shopify as a plan to scale  up while meeting market demands with the help of Shopify’s technical team and support. 

The company benefited from the launch of Meta’s thread since the slack alternatives own threads.com, a competitor of thread.net by Meta. Meta’s thread was mainly focused on business  communication therefore using “.network” in the domain. The data analytics firm, data.ai reported  that the startup saw 880k+ downloads globally on IOS devices from 6^th to 12^th July while the Android app crossed a million downloads. The CEO of Shopify, Tobi Lutke posted a welcome post to the team  but the details of the deal and integration are still undisclosed. The company received multiple buyout offers but declined until Shopify came up with a deal.  

The team of Thread mentioned that every company that came for the deal was incredible but, the  culture and vision of Shopify align perfectly with their company. Thread.com believes that the  company is not only focused on making the right thing but also on making it in the right way. The  thread team showed their excitement for this new collaboration and thanked all its supporters who  believed in the team for past years. 

Conclusion: 

Shopify is an e-commerce platform that allows its users to create an online store for their products and  services. Thread.com is a Sequoia-backed platform that lets you connect with the public. Shopify acquired Thread, a Sequoia-backed company. This acquisition will help Thread to integrate data, and  teams and spread their business more easily. The deals and amount of acquisition are not yet disclosed by the companies however, the startup mentioned on its website about the team joining hands with  Shopify.

The company also mentioned that a few companies reached out to them previously but they  politely declined. This time the company eventually signed a deal with Shopify as a plan to scale up while meeting market demands with the help of Shopify’s technical team and support. The startup  saw 880k+ downloads globally on IOS devices from 6^th to 12^th July while the Android app crossed a  million downloads.

The team of Thread mentioned that every company that came for the deal was  incredible but, the culture and vision of Shopify was what they were looking for in a company. This  time the company eventually signed a deal with Shopify as a plan to scale up while meeting market  demands with the help of Shopify’s technical team and support.