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SFU Venture Connection Client ArtsALLY Acquired by Whole New Home
Thursday, April 2, 2015Company Profile | Follow Company
Local online arts community is the third SFU Venture Connection startup company to be acquired
Vancouver, BC, April 2, 2015--(T-Net)--Simon Fraser University alumna Michelle Martin's passion to create an online community connecting art lovers and businesses with artists and artwork locally is already reaping success.
Under SFU Venture Connection mentor-in-residence Dave Thomas's guidance, the Beedie School of Business graduate launched her startup company ArtsALLY with business partners Steve Krueger and Francis Pilon in September 2014.
PDT Technologies Inc., the company behind Whole New Home, an online platform that connects homeowners with inspiring art, home design products and services, recently stated their intent to acquire ArtsALLY and the transition is now underway.
With more than 100 community members and 800 works of art in its collection, valued at more than $1.5 million, ArtsALLY will be absorbed into Whole New Home's creative community and online platform.
ArtsALLY was originally created to enable local art discovery by allowing prospective customers to either purchase art directly from their website or to “try it out” as a rental at home before deciding whether to make a purchase. Businesses could purchase a subscription to have the art in their office changed on a regular basis.
Martin says the acquisition “couldn't be a more perfect marriage” for ArtsALLY.
Within a month of its launch, Martin met Whole New Home's founders while exhibiting at the Vancouver Home and Design Show. Both saw a unique opportunity for a partnership.
By joining Whole New Home, Martin says ArtsALLY can achieve its goals faster and better. Local artists will not only be exposed to a vast global audience, but will also benefit from interior designers and resale efforts.
Artists now have access to an entrepreneurial support network that will help them achieve success through business webinars and one-on-one coaching sessions.
Martin credits SFU Venture Connection and Thomas with turning her concept and vision into an executable strategy and making the Whole New Home acquisition a seamless process.
ArtsALLY is the third acquisition in SFU Venture Connection's history. Previous companies that have been acquired include Layerboom (acquired by Joyent in 2010) and MetroLyrics (acquired by CBS Interactive in 2011).
"Privately owned businesses represent up to 60 per cent of Canada's GDP,” says Michelle Sinclair, manager, SFU Venture Connection. “Every private business starts with an entrepreneur who sees an opportunity in the marketplace and takes action to fulfill it.
“ArtsALLY is a great example of how university-incubators like Venture Connection help facilitate the success of young entrepreneurs in fueling the innovation pipeline.”
Joanne Hastie, an ArtsALLY artist and also an SFU alumna, says it is inspiring to witness Michelle's success as an entrepreneur.
“Michelle understood it is a challenge for artists to focus on both their creative vision and managing a business, which includes marketing and selling their work. Likewise it is a challenge for buyers to connect with local artists. I'm thrilled SFU introduced us and I am inspired to be involved with ArtsALLY and now Whole New Home.”
Interested artists and art lovers can contact Martin, who is now Whole New Home's director of the creative community, at michelle.martin@wholenewhome.com.
About SFU Venture Connection Program
The SFU Venture Connection program, in partnership with Coast Capital Savings, provides support for student ventures from initial idea to business validation. It offers an early-stage business incubator, mentorship, co-op terms, competitions, networking, speaker events, workshops, seminars and other business resources. Since its launch in 2008, more than 3,200 students have participated in its range of programs, with development services provided to more than 300 student venture teams.
About SFU
As Canada's engaged university, SFU is defined by its dynamic integration of innovative education, cutting-edge research and far-reaching community engagement. SFU was founded almost 50 years ago with a mission to be a different kind of university—to bring an interdisciplinary approach to learning, embrace bold initiatives, and engage with communities near and far. Today, SFU is a leader amongst Canada's comprehensive research universities and is ranked one of the top universities in the world under 50 years of age. With campuses in British Columbia's three largest cities—Vancouver, Surrey and Burnaby—SFU has eight faculties, delivers almost 150 programs to over 30,000 students, and boasts more than 130,000 alumni in 130 countries around the world.
Contact:
Michelle Martin, ArtsALLY founder, 604.454.8302; michelle.martin@wholenewhome.com
Allen Tung, University Communications, 778.782.3210; allent@sfu.ca
Photo Credit: SFU Public Relations
http://www.sfu.ca
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