Recruit Holdings invests in 99designs, Inc., a crowdsourcing marketplace provider forging a connection between designers and businesses worldwide
Apr. 16, 2015
Recruit Holdings Co., Ltd.
Recruit Holdings Co., Ltd. (Recruit; Headquarters: Chiyoda-ku, Tokyo; President and CEO: Masumi Minegishi) has invested in 99designs, Inc. (Headquarters: San Francisco, USA; CEO: Patrick Llewellyn), a design marketplace provider, through its investment subsidiary RSP Fund No. 6, LLC.
1. Goal of this investment
Through this investment, Recruit, together with 99designs, Inc., is planning to promote the use of crowdsourcing techniques, which are growing in popularity in various areas, in the field of design where future growth is expected worldwide. 99designs, Inc. is planning to use the funds raised to accelerate global expansion while facilitating the development of new products.
2. Overview of 99designs, Inc.
99designs, Inc. is a crowdsourcing marketplace provider for designers worldwide. The company's contest / project-based design services will enable businesses to produce high quality designs at low cost. Since the launch of the service in 2008, 99designs, Inc. has become one of the leading companies in the field of design. The company has held approximately 380,000 contests to date, with a cumulative payout of USD 110 million to designers who have participated in the contests.
|(1)||Company name||99designs, Inc.|
|(3)||Headquarters||447 Battery Street, San Francisco, CA 94111, USA|
|(4)||Established||February 13, 2008|
|(5)||Main business||Providing crowdsourcing marketplace for designers worldwide|
3. Overview of RSP Fund No. 6, LLC
|(1)||Company name||RSP Fund No. 6, LLC|
|(3)||Headquarters||8-4-17 Ginza, Chuo-ku, Tokyo|
|(4)||Established||November 12, 2014|
|(5)||Main business||Investment development and venture capital|
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