Shopify has officially acquired Threads.com, a Sequoia-backed Slack alternative, as announced on Threads’ website. The specifics of the transaction remain undisclosed, but it’s confirmed that the Threads.com team will now be part of Shopify.
In a statement, Threads.com highlighted the opportunity to sell its domains following the launch of Meta’s similarly named social network last year. While it’s unclear whether the domain was sold to Meta, Shopify, or another entity, the note suggests that Threads.com would have faced a rebranding challenge had it continued independently. We have contacted the involved companies and will provide updates as more information becomes available.
Threads.com made its debut in stealth mode in 2019, backed by $10.5 million in funding. The startup gained significant attention after Meta introduced its Threads social network, akin to Twitter. Interestingly, Meta had previously launched another product named Threads, an Instagram companion app, in 2019, which was discontinued in 2021.
The team at Threads.com revealed that amidst Meta’s social network gaining traction, several companies expressed interest in acquiring their platform. Eventually, they decided to join forces with Shopify, attracted by the chance to innovate on a larger scale.
“During the period when we were considering selling our domain, multiple companies approached us for acquisition. Unlike previous offers that we politely declined, this time the circumstances were different,” the company stated. “We weren’t keen on the lengthy process of rebranding, and with advanced technology now readily accessible, the opportunity to innovate at scale with Shopify was exciting.”
Last year, Meta chose to operate under Threads.net, as Threads.com was already owned by the business communication startup. Despite this, many users continued to visit Threads.com and downloaded the app, mistakenly believing it was the social network they sought.
Data from analytics firm data.ai revealed that between July 6 and July 12, Threads.com’s app saw 880,000 downloads globally on iOS alone. On Android, the app surpassed one million lifetime downloads, with minimal downloads occurring before Meta launched its Threads social network.
“Threads is a significant term and an internet-native concept,” stated Threads co-founder and CEO Rousseau Kazi, who spent six years at Facebook, in a past statement to TechCrunch. “Using threads across various platforms is an excellent way to stay connected with your network or company. It’s no surprise that Meta chose such a compelling name for their social network.”
Shopify’s CEO, Tobi Lutke, extended a warm welcome to Kazi and his team but did not elaborate on how Threads.com would be integrated into Shopify’s suite of products.
