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Hypebeast Hitting Wall Street With SPAC Merger

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Former Nike Brand president Trevor Edwards will join the combined firm's board as it starts to trade on the Nasdaq.

In its deal with Iron Spark, Hypebeast will receive proceeds of $180 million, giving the company a pro forma equity valuation of $534 million.

Founded in 2005, Hypebeast has more than 26 million followers and logged revenues of at least $112 million for the year ended March 31. From 2015 through 2021, the company saw a compound annual growth rate of 34 percent. Kevin Ma, executive director, chairman and CEO of Hypebeast, said: “For more than 15 years, we’ve been on a mission to share the most authentic aspects of culture all around the globe. We’ve built a loyal and passionate community who trust our curation across diverse lifestyle categories spanning, arts, design, luxury, sports, technology and more. Partnering with Iron Spark and entering the public markets in the U.S. will propel us to the next level.

 

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