European-based experience gift platform Smartbox Group has acquired the Scandinavian experiences platform Truestory.
Lasse Kjær, founder of Truestory, announced the acquisition in a LinkedIn post, stating the Nordic-centred experiences platform, with some “1,000 live experiences from more than 600 hosts”, now had a “new owner who wants to invest in Truestory to redeem the long-term potential of the business.”
Skift reached out to Kjær for specific details on the sale, but he stated he was “unable to share the value of the acquisition right now.”
Truestory would continue to operate under the same brand as the site’s users know it, specifically strengthening Smartbox Group’s position in the Nordic countries of Norway and Sweden, René Drewsen, Cluster Director Nordic at Smartbox Group, said in a statement.
Founded in 2003, the Smartbox Group is present in nine European countries and claims it sells 7 million experience gifts worth an estimated $547 million annually. The company works with “40,000 European partners, distributing through 18,000 retail stores, supermarkets, websites, and online retailers.”