Spring, formerly known as Teespring, was one of the first companies to offer a way for social media creators to sell custom merchandise like hoodies, phone cases and hats to their fans. Its focus on creator-customized products has been paying off. After 53% growth last year, the company expects to generate $165 million in revenue this year.
CEO Chris Lamontagne said in an interview that the startup is targeting an initial public offering within the next 18 to 24 months. The company, which has raised an estimated $60 million from investors including Andreessen Horowitz and Khosla Ventures, has been profitable on an EBITDA basis, a measure of profitability that strips out costs like taxes, since 2018, he said.
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