Private equity firm Catapult Capital has purchased JibJab, a US-based social multimedia producer backed by electronics and entertainment conglomerate Sony and production company Overbrook Entertainment, for an undisclosed amount.
Investment firm St. Cloud Capital partnered Cataplut Capital for the acquisition and provided a portion of the funding.
Founded in 1999, JibJab provides an online platform that enables users to create humorous electronic greeting cards, music videos and messages that can shared and sent to their friends and family through social media.
Sony subsidiary Sony Pictures Entertainment and Overbrook Entertainment, a production and management company created by actor Will Smith, took part in the company’s $7.5m series C round in 2009 alongside existing investor Polaris Venture Partners. JibJab had previously raised $9.4m.
JibJab chief operating officer Paul Hanges has been promoted to CEO as part of the deal. He said: “With Catapult Capital and the investor group’s support, we’ll be able to make additional investments in product, new markets and technology, and help more people create and share our best content. We are eager for the opportunities ahead of us.”