Digital marketing landscape is shifting at a rapid pace. Online social network Plaiced has lately acquired Clutch, a marketplace for digital marketing services and is backed by Precursor Ventures. The deal was finalized earlier this week and the terms are yet to be disclosed. However, the move signifies a strategic push by Plaiced to strengthen its position in the rapidly growing creator economy.

Clutch co-founder Madison Long emphasized the necessity of the acquisition to maintain competitiveness and capturing market share. He said that the creator economy is growing rapidly and they can take over market share with the move of the latest acquisition.

However, the journey of Clutch has not been without challenges. It underwent a restructuring process in June 2023 and conducted layoffs to prioritize profitability. Co-founder Simone May stepped down from her role as CTO during the period to focus on her family.

Plaiced is led by CEO Kaaveh Shoamanesh. He met the partner at a networking event in May and started discussing about the acquisition. Long felt that Clutch and Plaiced shared similar values and especially in ensuring fair pay for creators. Long said that there are very few platforms in the industry that prioritize paying creators what they deserve without compromising.

Shoamanesh was excited about the acquisition. He noted how it expands the network of Plaiced and brings more ways for creators to make money. He said that it also offers more monetization opportunities for creators using our existing online communities.

The acquisition is a major milestone in the entrepreneurial journey of Long. She said that nothing can fully prepare for first exit and she had been working on Clutch for five years.