Golden Peak Media, one of the largest media and education companies serving art and craft enthusiasts in the US, has acquired Creativebug, an online learning platform previously owned by Joann. Details of the private sale were not disclosed.
“The synergy between Creativebug and Golden Peak Media’s content, consumers, and communities made this acquisition a very natural fit,” said David Saabye, Chief Executive Officer at Golden Peak Media. “This alignment will allow even more enthusiasts to be inspired throughout their entire creative journey with continued support for lifelong learning.” This was a private sale, and terms were not disclosed.
Golden Peak Media is headquartered in Golden, Colorado. Creativebug will maintain its headquarters in Berkeley, California with current General Manager, Liana Allday, staying on in that role.
“We are over the moon to have found a new home that shares our passion for making,” said Alday. “Golden Peak’s involvement in the craft community and commitment to high-quality media is clear in everything they do, and we are thrilled to join the portfolio as their newest digital brand.”
Creativebug instructor, embroidery artist Rebecca Ringquist, reflected on the announcement. “Dropcloth Embroidery has always had an excellent working relationship with Creativebug, and I’m thrilled to hear that the hard work and amazing content will live on. In these strange times we’re living in, Creativebug brings high-quality arts education to people where they need it most- at home.”
History of Creativebug
Creativebug was founded in 2012 by Jeanne Lewis and Julie Roehm whose vision was to have a way for busy people to access art and craft classes anytime by hosting them online through a monthly subscription. Creativebug offers over a thousand online classes covering a wide variety of art and craft subject matter. The classes are taught by top designers, and the company is known for its style of high-quality, intimate-feeling videos.
Creativebug has changed hands a few times since its launch. Demand Media purchased the company from its founders in 2013. In July 2014, AT&T-Chernin Group’s Otter Media bought Creativebug for $10 million. In April 2017, Creativebug was acquired by Joann at a time when mass market craft retailers were partnering with online learning platforms. Competitor Craftsy had forged an exclusive partnership with Michaels just a month prior.
History of Golden Peak Media
Golden Peak Media was founded out of a bankruptcy auction. In the spring of 2019, craft media conglomerate F+W Media filed for bankruptcy. Media investor Terry O’Toole’s investment firm, Macanta Investments, bought the largest share of F+W’s holdings with a bid of $2,850,000 to form Golden Peak Media.
The company’s portfolio of brands includes Interweave, Quilting Daily, and Sew Daily, nine print magazines, including Quilting Arts and Love of Quilting, the Bead Fest and Yarn Fest events, as well as several fine art brands. Golden Peak also already offers 5,000+ on-demand classes and over 15,000 digital patterns.
Community reaction
“I’m ready to get back to work, dive into all the great content we have planned, and continue growing our relationships with Creativebug’s amazing instructors and subscribers,” said Creativebug Editor-in-Chief Courtney Cerruti.”
Ursula Morgan, who served as CEO of Creativebug from August 2014 to November 2018 and saw the company through the Joann acquisition, expressed satisfaction at the news of the company’s new ownership. “I’m thrilled to see Creativebug—a cherished platform for creative enthusiasts—find such a perfect home with Golden Peak Media,” Morgan said. “It’s truly a match made in heaven. With a strong management team that deeply understands the craft consumer, I’m excited to see Creativebug go from strength to strength in this next chapter.”
Clothing designer and teacher Cal Patch expressed relief and hope at the news of the acquisition. “I’ve been working with Creativebug since it began, and it’s been very distressing not knowing whether we would all come out the other side of this bankruptcy unscathed,” Patch said. “I had imagined it would find a new parent company, but had no idea what the odds were. I hope Golden Peak will allow us to continue growing this wonderful platform, and the only changes will be positive ones.”
Knitting and crochet designer Vickie Howell has worked with and admired Creativebug for years. “CreativeBug is one of the few publishing platforms that truly represents the breadth of art and craft mediums, making up the vibrant craft community. In everything they produce, it’s evident that their content is made for creatives, by creatives,” Howell says. “Their support of independent creators is invaluable and has remained consistent from their small-business days to their time as part of the JOANN portfolio and will undoubtedly carry on in partnership with Golden Peak Media. I’m thrilled to hear CreativeBug’s light won’t be dimmed by the demise of JOANN, and am looking forward to their bright future ahead!”
Abby Glassenberg
Co-founder
Abby co-founded Craft Industry Alliance and now serves as its president. She’s a sewing pattern designer, teacher, and journalist. She’s dedicated to creating an outstanding trade association for the crafts industry. Abby lives in Wellesley, Massachusetts.
