Social media agency The Social Chain has announced it has merged with German online retailer Lumaland.
The move will see the agency become a public company for the first time and will be listed on the Xetra electronic exchange and Dusseldorf Stock Exchange.
The Social Chain AG said it is now and has around 500 employees.
The company said its new strategy will focus on developing “social media brands”.
Wanja S. Oberhof, who will jointly manage the The Social Chain AG alongside co-founder Steven Bartlett and Holger Hansen, explained: “Social media brands are inspired, developed, loved and promoted through social media.
“They are a brand, a community, a medium and a product all in one.
“As a result, social media brands can be developed in line with demand, produced faster and marketed more efficiently than conventional brands and products.”
Dr. Georg Kofler, CEO of the German media companies, has been appointed chairman of the supervisory board. He holds around 47 per cent of the shares of The Social Chain, while other founders and management hold 42 percent.
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The merger will see The Social Chain’s headquarters move to Berlin, while retaining locations in Manchester, London, New York and Munich.
The Social Chain AG has announced it aim to be listed on the Nasdaq Stock Market or admitted to the Prime Standard of the Frankfurt Stock Exchange.
It is also planning a public offering in mid-2020 to raise capital for further growth.