Social Chain, an online agency founded by Dragons’ Den star Steven Bartlett, is to be sold in a deal worth at least £7.7m.
Dragons' Den Star Sells His Digital Ads Agency In £8million Deal
Brave Bison, a social and digital media group, yesterday said that it had struck a deal to buy the brand.
Dragons' Den Star Sells His Digital Ads Agency In £8million Deal
Bartlett, who also fronts the Diary Of A CEO podcast, founded the company in 2014. The media agency works with brands such as Amazon, TikTok, KFC and Apple Beats to create social media ad campaigns and perform influencer marketing services.
Dragons' Den Star Sells His Digital Ads Agency In £8million Deal
Success: Social Chain is an online agency founded by Dragons’ Den star Steven Bartlett
It has 122 staff, with offices in Manchester, New York and London. Bartlett stood down as chief executive in 2020, but it is not known whether he kept a stake and so would financially benefit from the sale.
Social Chain was a subsidiary of listed German ecommerce operation The Social Chain AG. Brave Bison said the agency will help it to raise its social media ad revenues seven-fold to £15m for the year. It said it will pay an initial consideration of £7.7m but this could increase if Social Chain meets earnings targets.