Printify and Printful unite to power the global creator economy
Last summer, as the Barbie movie was breaking box office records, my social media feeds were awash with men in shirts, declaring ‘I am Kenough’. Today, cultural moments can go from meme to merch in a matter of days, if not hours – a fundamental shift in how we create and consume online.
This is a big part of why we’re excited about the merger between two pioneering print-on-demand platforms: Printify, in the Index portfolio, and Printful. Together, they’re poised to become a go-to provider for personalized production. At Index, we’re longstanding believers in the power of creator communities, backing platforms like Etsy and Patreon early on, as well as investing in Discord, Linktree and Roblox, among others. From Kim Kardashian to Mr Beast, the creator economy is booming, and brands and personalities are racing to monetise their audiences. Even large enterprises are adopting creator economy playbooks, using physical merchandise and ‘collabs’ to build loyalty. By combining Printful’s in-house production with Printify's reach among third-party printers and merchants, the merged entity is poised to serve millions, from solo creators to global brands like NBC and Netflix.
The Printify story exemplifies so many of the themes and values we champion at Index. It began with founder James Berdigans’ solving for his own pain-point, trying to make and sell customized products without the hassle of handling inventory or production. He bootstrapped Printify into a thriving business, while showing humility about what the company needed to succeed. When Printify needed fresh leadership, James didn’t just recognize it – he acted on it, promoting CFO Anastasija Oleinika to CEO. Having the self-awareness to empower others, and to place the interests of the company above his own ego, are hallmarks of exceptional founders.
Born in Latvia, Printify also embodies our conviction that exceptional founders can come from anywhere. The team has been super resourceful, hiring locally out of Riga for many years, and retaining a predominantly European team to this day. The merger is a watershed moment for the region too: Printful, now headquartered in the US, also has roots in Latvia, and the new entity will be one of the biggest global tech companies to emerge from the Baltics.
But while the two companies share cultural DNA, their journeys affirm that there’s no single blueprint for building a high-growth startup. Their different paths – one building manufacturing capacity, the other a marketplace; one expanding to the US early, the other doubling down on European talent – prove that companies can take different routes to the same summit.
Above all, Printify’s journey shows why grit and determination are so crucial if you want to build something enduring. James has always been a custodian of Printify’s bigger vision to democratize custom products. Faced with challenges and opportunities, he’s had the foresight to turn down quick wins. And Anastasija has shown herself to be a brilliant and inclusive leader who never loses sight of the end goal – driven by the same energy and discipline, perhaps, that gets her out of bed to go running at 6am every morning.
My Index partner Martin Mignot and I have been proud to stand in the trenches with Printify as they’ve gone through this extraordinary transition. On behalf of the whole Index family, we’re extending our warmest congratulations on achieving this milestone – not just for the company, but for Latvia and the Baltic ecosystem as a whole. As the new entity embarks on the next chapter, we’re confident it will serve as a beacon to founders who dare to dream big while staying true to who they are.
Published — Nov. 5, 2024
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