Australian flower delivery startup LVLY acquired for $35 million by south-east Asian e-commerce firm

Local flower delivery startup LVLY has been acquired for a massive $35 million by south-east Asian tech firm Limitless Technology, amid growth in online flower delivery over the past two years.

The deal will reportedly deliver Melbourne-based founders Hannah Spilva and Verity Tuck a windfall of $20 million. 

LVLY co-founder and chief executive Spilva said the move will accelerate their vision to firmly establish LVLY within APAC.

“We’ve been through a period of rapid growth in the Australian market but have always had our sights set on becoming a global business,” Spilva said in a media statement.

“Working alongside Limitless we are able to accelerate international expansion opportunities as well as increase market share domestically.”

Based in Kuala Lumpur, Limitless Technology launches, scales, and acquires profitable e-brands across Asia Pacific, with a focus on gifts, confectionery, health, and fashion. 

Following the news, LVLY has confirmed Spilva will take a board seat at Limitless Technology and Tuck will leave the business.

Launching the business in 2015, LVLY’s founders sought to create an affordable flower delivery business that would allow people to more frequently let friends and family know they were thinking of them with flowers.

LVLY’s revenue grew by 629.9%