Teespring Sees Large Profits from T-shirts
Teespring, a two-year-old online business that helps people sell original T-shirts, has sold six million shirts this year through its customers. According to an article in Forbes, hundreds of their customers make more than $100,000 from their shirts. At least 10 of which, according to the company, have become millionaires.
The young company has said that it wants to grow in 2015, and has raised millions in venture backing from Khosla Ventures. Khosla Ventures partner Keith Rabois joined Teespring's board.
Teespring handles payment, manufacturing and shipping T-shirts, after their clients come up with an original design. Founders Walker Williams and Evan Stites-Clayton came up with the idea during their senior year at Brown University.
The company plans to expand beyond T-shirts into a wider range of products. Williams likened the T-shirt side of the business as Amazon is to books.
Teespring's success is evident, as competing T-shirt companies have seen trouble. Rival company Threadless announced layoffs in January, around the same time that Teespring raised its first round of venture funding.
Originally based in Providence, R.I., Teespring has expanded to San Francisco, and is in the process of building a 300-employee manufacturing plant in Kentucky. This is in addition to its existing 170 employees in Rhode Island and California.
For more information on Teespring, visit www.teespring.com.
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