TRUCKEE, Calif. — Mangrove, an online design and improvement studio primarily based in Truckee and Oakland introduced Friday that it’s buying Manoverboard, a fellow purpose-driven artistic company primarily based in Winnipeg, Manitoba, Canada.
The merger of two well-regarded Licensed B Firms into one highly effective company indicators the rising energy of the purpose-driven enterprise neighborhood.
As of December 2022, the worldwide neighborhood of Licensed B Firms numbers greater than 6,200 – a 44% improve over 2021. The 2021 annual report of B Lab World states, “It’s not simply extra B Corps, however greater B Corps: 30 public corporations are actually licensed, 15 of which had their IPOs within the final yr.”
Manoverboard’s founder and principal Andrew Boardman mentioned, “There’s something extraordinary about two B Corps merging paths and creating one thing new. We hope to supply management and steerage to different B Corps concerning the probabilities that mergers and acquisitions can supply.”
Of extra direct relevance to Mangrove’s purchasers, the merger of the 2 companies beneath the Mangrove model will improve Mangrove’s digital design and improvement companies. The company anticipates extending its award-winning digital design and web site companies to a bigger, extra international consumer base.
Mangrove CEO Maiya Holliday mentioned, “Our two corporations have supported one another’s work over the previous three years, demonstrating a profound alignment of our values and complementary talent units. Becoming a member of forces formally will improve our artistic collaboration and collective influence.”
The merger was official on Jan. 16.
Mangrove’s globally distributed employees of 18 and Manoverboard’s six-person crew in Canada will turn into one sturdy, cross-functional design and improvement group. Mangrove’s management group of Maiya Holliday, Megan Yarnall, and Marie Koesnodihardjo will probably be joined by Boardman. The previous Manoverboard group will proceed to function from Winnipeg.