Magnolia Box Ltd

Magnolia Box

Magnolia Box
65 Timber Yard
Drysdale Street
London N1 6ND

Contact:
James Old
james@magnoliabox.com
http://artistic.ly

Artistic.ly is a social marketplace for artists to connect with curators, consumers and their contemporaries

Project update coming soon

The original pitch

What is the market opportunity?

Affordable art has disappeared from the High Street, replaced by more flexible online print-ondemand models, supplied almost entirely by a small number of US-based superstores. There are almost no significant UK/EU-based operations, despite the US online market being worth $2.5bn in 2011, growing to $3.6bn in 2014. The right content, with the right model, has a great opportunity to capture some of this market share.

What is the business model?

We have two primary revenue models – online retail of high-margin fine art prints and, in due course, recurring fees from portfolio websites. Additional sources of income could come from diversification into non-art products such as T-shirts, offline retail via events, image licensing and app sales. Accelerated growth will come by leveraging existing relationships to access niche communities (for example, launching a Tatebranded store, powered by the core Artistic.ly platform).

Who are the team?

Magnolia Box is led by James Old, formerly an e-business strategy consultant with PwC and founder of four previous start-ups. Our four-man team has 37 years’ web development experience, over 21 of which have been specifically focused on building digital solutions (for example, web, touch-screen kiosk, apps) for the arts sector. Our current portfolio of clients includes Natural History Museum, Tate, British Library, Kew, News International (Times) and Condé Nast (Vogue).

What is the funding strategy?

Investment of £100,000 would be sufficient to deliver our vision for Artistic.ly. It is our expectation that any investor would wish to take a stake in Magnolia Box. Magnolia Box has been bootstrapped since launch and 90% of the shares are owned by James Old. Investment of £400,000 would secure 20% with a planned exit in two-to-three years. Investors with a track record of selling business in the US would be particularly attractive.

Last updated on Thursday 30 August 2012 at 12:35

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