Intellectual Property Advisory Firm Hilco Streambank Managing Sale Process
Bid Deadline: April 17, 2025
Hilco Streambank is seeking offers to acquire the operating assets of creativebug®, a profitable arts and crafts content creation and subscription-based distribution platform with existing enterprise and consumer customers.
Bids are due on or before April 17, 2025.
creativebug® provides all-access, on-demand learning experiences, allowing subscribers to explore thousands of professionally produced instructional videos for sewing, art, craft, and needle art. Classes cater to all skill levels, with expert-led lessons filmed and edited in-house in Berkeley, CA, ensuring high-quality content delivery.
Over the prior five fiscal years, creativebug® averaged over $1.2 million in annual adjusted EBITDA. The company generated more than $4 million in revenue in calendar year 2024. The platform serves over 25,000 consumer members and reaches more than 223,000 patrons across 1,200+ enterprise library systems.
Hilco Streambank CEO Gabe Fried commented, “creativebug® is a healthy, profitable business with a strong operating team, a dedicated consumer and enterprise customer base, and a robust digital content library.” Fried continued, “The enterprise membership program, launched in 2018, has proven to be an attractive model for the business and for subscribing libraries seeking high-quality, engaging content—and there remains a significant pipeline of qualified customers to convert. This opportunity should be attractive to operators in the maker community, content distribution platforms, digital media creators, craft suppliers, library content providers, and investors, and presents the opportunity to capitalize on a loyal subscriber base and fully operational business through an asset purchase.”
The sale of creativebug® is being conducted in connection with the bankruptcy of JOANN Inc., which, along with its affiliates, has entered into an agency agreement with GA Joann Retail Partnership, LLC and the prepetition term lenders, who have engaged Hilco Streambank to manage the sale.
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