First Tumblr, and now comes another sizable New York City exit. Turns out the whimsical MakerBot won’t be raising a round, after all, because the desktop 3D-printing startup is being acquired by publicly traded behemoth Stratasys, for $403 million in stock. (Of course, that’s just the initial value, based on today’s $84.60 closing price for shares of Stratasys stock.) Stakeholders qualify for additional performance-based earnouts, with an initial total value of $201 million.
That’ll pay for a whole lot of puppets!
Stratasys said in their announcement they expect the team-up to “drive faster adoption of 3D printing for multiple applications and industries, as desktop 3D printers are becoming a mainstream tool across many market segments.” Then there’s the fact that Stratasys specializes in massive, industrial-scale printers, and they surely don’t want to get tripped up by the old innovator’s dilemma.
MakerBot will supposedly continue to operate independently, with its current management, as a separate subsidiary. The company, by the way, has sold more than 22,000 3D printers since 2009–11,000 of them Replicator 2s.
MakerBot CEO Bre Pettis said in a statement:
“We have an aggressive model for growth, and partnering with Stratasys will allow us to supercharge our mission to empower individuals to make things using a MakerBot, and allow us to bring 3D technology to more people. I am excited about the opportunities this combination will bring to our current and future customers.”
Sounds like investors have reason to be excited, too: The company had raised around $10 million in venture capital, plus $1.2 million from angels. The Wall Street Journal reported recently that the company did $10 million in revenue last year and expects to clear $50 million in 2013.
Okay, so who’s up next?