Soletron
Social commerce site for the street wear, urban apparel and sneakerhead community.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
| N/A | $700k | Series A | |
| Total Funding | 000k | ||
Soletron emerged in September 2010, founded by A.J. Steigman and Shane Robinson, two former Merrill Lynch investment bankers. Steigman's entrepreneurial journey was influenced by his background as an international chess champion, where he developed strong pattern-recognition skills, and by a personal battle with Lyme disease in his youth. His first venture, a successful Nike sneaker store, revealed the inelastic demand within the sneakerhead community, sparking the idea for an online platform. Robinson served as the company's COO, CFO, and Co-Founder.
Initially conceived as a social e-commerce marketplace, Soletron's platform was designed to connect independent brands directly with consumers in the streetwear and sneakerhead culture. The business model resembled that of Etsy, where sellers could create their own storefronts to list inventory, while Soletron facilitated the interaction and transaction without holding any stock itself. The platform catered primarily to a demographic of 15 to 25-year-olds, offering a social layer where users could create profiles, follow brands and other members, and share favorite products. The company launched its blog in March 2011, followed by an e-commerce platform in December 2011.
In November 2012, the company pivoted its strategy to focus entirely on being a content platform for the youth community, leveraging its established authority in the space. This move transformed Soletron into a media and information company specializing in lifestyle and entertainment content, with a vast network of international writers producing articles on fashion, music, and culture. This strategic shift culminated in its acquisition by Karmaloop, a major global streetwear e-retailer, in July 2014 for an undisclosed amount. The acquisition was intended to bolster Karmaloop's content offerings for its target audience, described as the 'Verge Culture'.
Keywords: Soletron, streetwear, sneakerhead, e-commerce marketplace, youth culture, content platform, urban apparel, social commerce, A.J. Steigman, Shane Robinson, Karmaloop, lifestyle blog, independent brands, fashion media, sneaker culture, online retail, digital media, youth entertainment, brand discovery, social shopping