Ulule has announced its acquisition of KissKissBankBank, a move that solidifies its leadership in the French crowdfunding market. This transaction aims to further structure the sector and enhance services for project creators, aligning with their stated goals.
Strengthening the French Market
Ulule recently confirmed the acquisition of KissKissBankBank, a subsidiary of La Banque Postale since 2017. Established in 2010 and 2009 respectively, the two platforms have collectively raised 480 million euros for 80,000 projects. This move is part of a market consolidation strategy, particularly as the crowdfunding industry saw a significant decrease of 11.3% in 2023, largely due to a downturn in real estate financing. According to Adrienne Horel-Pagès, chair of the board at KKBB, this acquisition will allow the platform to continue its operations within a major sector player.
Gradual Technological Integration
While maintaining their separate identities, KKBB will gradually merge into Ulule’s infrastructure. This technological integration aims to reduce costs and offer unified services that support project creators through every phase. Alexandre Boucherot, co-founder of Ulule, mentioned that the goal is to develop a platform that provides more efficient tools and enhances the visibility of campaigns. A major transformation of Ulule is scheduled for early 2025, which will include new features from this merger.
Emphasis on the Cultural Sector
The cultural sector, particularly publishing, remains a cornerstone for both platforms. In 2023, they helped fund 1,584 projects related to reading, totaling 12.5 million euros. These projects mostly involve independent publishers and self-published authors. Ulule boasts a success rate of 78% in its fundraising, especially for literary projects. This trend is likely to grow with the pooled resources and communities of the two entities.
The crowdfunding sector has also been weakened by the pandemic and the current economic climate, affecting the number and scale of projects initiated. With this acquisition, Ulule hopes to boost its competitiveness against global players like Kickstarter. This move also represents a diversification of Ulule’s revenue streams, relying on additional activities such as training and commercial partnerships. Both platforms now aim to leverage their combined strengths to further structure the market.
Do you ever support projects on crowdfunding platforms like these? If so, which ones? Tell us about it.