It’s a busy day at Punchbowl, the digital invitation company based in Framingham, MA. The company, which provides a platform for digital gift cards, announced on Monday a few moves, including an investment and a license agreement.
First things first. The investment Punchbowl received came from Party City, a public retail chain of party supply stores based in New Jersey. As a result, Party City is now offering on its website the possibility for party givers to send customizable online invitations - the core business of Punchbowl - while ordering their party supplies online.
"As the leading party goods supplier, Party City is an ideal partner for us," said Punchbowl CEO Matt Douglas in a statement. "We view this as an excellent and logical combination of services with clear benefits for consumers, especially the time-constrained party giver."
Neither Punchbowl nor Party City disclosed the amount of financing, which Party City called “a minority investment” in a press release. As part of the deal, Ryan Vero, President of Party City Retail Group, has joined Punchbowl's Board of Directors.
On a separate note, Punchbowl announced it has entered a license agreement with entertainment brand Marvel, which means that starting today, Punchbowl will provide online invitations starring iconic Marvel characters such as Spider-Man, The Avengers and Guardians of the Galaxy. According to the company, the over 40 Marvel-themed online invitation designs can be customized and sent from any device. For some designs, parents willing to pay for a plus membership have the option to add their child’s photo as part of the online invitation.
"Marvel characters are immensely popular as kids’ birthday party themes," said Matt Douglas, CEO of Punchbowl, in a different statement. "We’re thrilled to work with Marvel to create a bold, dynamic collection of online invitations for parents planning parties for millions of young fans."
Last time we heard from Punchbowl was in May, when the company raised $4 million in an equity offering, according to a SEC filing. Punchbowl is backed by Intel Capital, Contour Venture Partners and Launchpad Venture Group.
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