Grin, a Sacramento, Calif.-based influencer marketing technology company has acquired WearAway for an undisclosed sum.
As part of the deal WearAway founder Lee Greene has joined Grin as vice president of partnerships with a focus on fashion, beauty and retail. In the four years since she started WearAway as a rental marketplace and online showroom for influencers to borrow designer apparel and accessories for content and events, the company attracted more than 5,000 members, 7,000 products and 900-plus brands.
WearAway is Grin’s first acquisition. As for whether WearAway will still exist as a site, it hasn’t been decided what Grin will do with the domain, according to Grin’s chief executive officer Brandon Brown. “We’re still trying to figure out how do we integrate those assets into the company and what that looks like,” he said, adding that Grin might potentially absorb Wear and not continue it.
Founded in 2014 as a cross-promotion marketplace for influencers, Grin moved into influencer marketing in May 2017, Brown said. The two companies were connected through a mutual friend who thought the acquisition would be “a really good fit and spoke with the founders,” Greene said. “We immediately connected and really hit it off. I clicked really well with the founders.”
The deal was finalized in about three or four months, she said. Impressed by the types of influencers and brands that Greene was working with at WearAway, Brown said the acquisition was about having her “come into the company to help identify, evaluate and execute partnerships in fashion and beauty.”
Grin’s software allows direct-to-consumer brands to run influencer programs in-house, helping to automate recruitment, fulfillment of product, revenue tracking and aggregation, management of influencers, collection of W-9s and sending payments.