The social media firm founded by Steven Bartlett of Dragons’ Den, Social Chain, is being sold for at least £7.7m. The social and digital media company Brave Bison said it had reached an agreement to acquire the business. Mr. Bartlett, then age 30, established Social Chain in 2014.
While it is speculated that he may still have a stake in Social Chain and profit from a potential sale, he stepped down as CEO in 2020. Mr. Bartlett, who joined the cast of “Dragons’ Den” in 2021, is not only the host of the popular podcast “Diary of a CEO,” but also a Dragon on the show.
Amazon, TikTok, and Apple Beats are just a few of the companies that have enlisted Social Chain’s social media advertising and influencer marketing services. There are 122 employees working across the company’s Manchester, London, and New York locations. There is a lot of room for development.
Formerly, Social Chain was a division of the publicly traded German e-commerce company The Social Chain AG. Brave Bison has promised an initial payment of £7.7m, with the possibility of an increase if Social Chain reaches certain financial milestones. The new buyer anticipates a £15 million increase in social media advertising revenue as a result of the purchase of Social Chain.
“We’ve long admired Social Chain, which we believe is among the world’s best regarded social media and influencer marketing brands,” said Oliver Green, chairman of Brave Bison. “We’re excited by the highly relevant clients it brings into our business.” With the momentum Pete Metcalfe and the team have created on Steven Bartlett’s platform, “Social Chain” has enormous growth potential within Brave Bison.