Friday, June 9, 2017
Loot Crate Adds Maker's Ynon Kreitz As Chairman, Hits Profitability
Los Angeles-based subscription e-commerce startup Loot Crate, which offers up monthly deliveries of curated "mystery boxes" to fans, said on Friday that former Maker Studios CEO Ynon Kreitz has joined the company's board as Chairman. The company also said it has become profitable for the first time. Kreitz served as CEO of Maker Studios from 2013 through its acquisition in 2015 by Walt Disney, and was one of its original investors. Kreitz also served as Chairman and CEO of TV production giant Endemol Group, was a venture capitalist at Balderton Capital, and was co-founder of Fox Kids Europe N.V. Loot Crate did not release any financials related to that profitability, but says it now has over 650,000 subscribers.