Collabosaurus changes hands in rare women-led tech exit

Entrepreneur Jessica Ruhfus has sold her Collabosaurus platform to fellow entrepreneur Lauren Swidenbank, in a “swift” deal that started over dinner. 

Ruhfus founded Collabosaurus in 2015 as a matchmaking tool to facilitate collaborations between brands.

The business started from humble beginnings, with Ruhfus working three jobs in the early days to get the platform off the ground. 

The bootstrapped technology platform has grown by an average of more than 84% each year and has worked with some 10,700 brands, including household names like Microsoft, Walmart, Cointreau, Marks & Spencer, Bondi Sands and ASOS. 

Collabosaurus’ profit margin of 46.8% was the clear drawcard for new owner Swidenbank, who is the CEO and founder of performance marketing agency Cali Social. 

The price tag of the acquisition has not been disclosed and SmartCompany understands it will be ‘business as usual’ in terms of all current team members and contractors continuing with the business. 

The deal is a relatively rare example of a successful women founder exiting the tech sector. 

According to Pitchbook data, all-women founder exits accounted for only 0.8% of total exit value in the US in 2021. 

Swidenbank in a statement she sees the acquisition of Collabosaurus as a strategic move to expand her existing business into tech, while also scaling Collabosaurus internationally and into the luxury brand sector.

“I’m excited about the scalability and potential of Collabosaurus, and was impressed by the platform’s unique model fostering win/win marketing collaborations, amidst rising saturation and an uncertain economy,” she commented. 

“I will be focused on leveraging my background in performance marketing to continue the growth trajectory of the brand and enhance Collabosaurus’ market presence.”

Ruhfus’ second act

Ruhfus said the acquisition itself happened quickly and organically and began one evening when the two founders had dinner together. 

“We both had a shared vision for the future of the brand,” she said. 

“I have full confidence that Lauren’s leadership will continue to propel Collabosaurus forward.”

Ruhfus now plans to focus on her e-commerce brand No.2 Co, a toilet freshener product-based business that she launched in 2021. 

No.2 post-flush perfume drops. Source: supplied.

No.2 sells Australian-made post-flush perfume drops, and recently recorded its best day, week, and month of sales, thanks to its first Black Friday and Cyber Monday promotion. 

Sharing insights from that promotion with SmartCompany, Ruhfus said while she was initially sceptical about running a sale during the major sales event, the brand saw exceptional results by offering a gift with purchase, avoiding overspending on ads and focusing on the “jackpot” of returning customers.

Speaking to SmartCompany, Ruhfus said she initially started No.2 as a “case study business” and a “side project with the intention of having some creative fun and proving out the immense benefits of brand collaborations across many facets of a brand’s growth”.

But the founder says she was “caught by surprise” at how quickly the brand took off, not expecting it to grow at the pace it has.

“For the last year, it’s been difficult managing both priorities and it’s meant that I haven’t been able to give enough of my time and energy that both brands so deserve,” she explains.

Ruhfus says she is “thrilled to be handing the reins” of Collabosaurus to Swindenbank, and excited to now focus solely on No.2.

“We’re launching into the US in the new year, and I have some incredibly cool product releases up my sleeve as well as partnerships (of course),” she shares.

“My love of marketing remains, and I hope to continue helping brands with smart strategies, however, the structure of this remains to be seen. For now, I’m looking forward to a few weeks off before I turn my attention to taking No.2 Co to new heights!”