According to reports, notonthehighstreet has been fully purchased by US investment company Great Hill Partners.
News of Great Hill Partners planning to buy the London-based online marketplace began circulating last month and it was speculated that offers to buy the platform could have reached £150 million.
During the pandemic, notonthehighstreet has thrived, as consumers have flocked online to buy special items to support small businesses whilst providing themselves with a little comfort during challenging times. 500 new businesses were welcomed to the marketplace whilst a million new customers browsed the digital shop windows. During their recently successful Christmas period, NOTHS focused on the importance of small things and the continued support of small businesses.
“We’ve been supporting small businesses since 2006, but this year has been like no other in our history. We’ve long been the number one destination for thoughtful, unique gifts that you can’t find anywhere else, but this year we’ve seen a huge groundswell in consumers choosing to shop small for more than just gifts.”
– Ella d’Amato, CCMO, notonthehighstreet
The platform was founded in 2006 by Holly Tucker and Sophie Cornish and is currently home to over 5,000 small businesses. They recently welcomed some new sellers to the marketplace and Great Hill Partners will allow them to further their growth and expansion with confidence in the UK.