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MakerBot

American manufacturer of 3D printers

  • 10 min read
  • 6 chapters

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Through 3D printing, Venture capital and Open source

History

Smith was one of the founding members of the RepRap Research Foundation, a non-profit group created to help advance early research in the area of open-source 3D printers. Bre Pettis got inspired during an art residency in Vienna with Johannes Grenzfurthner/monochrom in 2007, when he wanted to create a robot that could print shot glasses for the event Roboexotica and did research about the RepRap project at the Vienna hackerspace Metalab. Shot glasses remained a theme throughout the history of MakerBot.

The company started shipping kits in April 2009 and had sold approximately 3,500 units as of March 2011. Demand for the kits was so great in 2009 that the company solicited MakerBot owners to provide parts for future devices from their own MakerBots. Seed funding of $75,000 was provided by Jake Lodwick ($50,000) and Adrian Bowyer and his wife, Christine ($25,000).

In August 2011, venture capital firm The Foundry Group invested $10 million in the company and joined its board.

In April 2012, Zachary Smith was pushed out, involving disagreement on adherence to open-source principles, and likely also about integration with Stratasys. Private security led out 100 employees laid off around the same time.

On June 19, 2013, Stratasys Incorporated announced that it had acquired MakerBot in a stock deal worth $604 million, with $403 million in stock paid up front, based on the current share value of Stratasys. The deal provided that MakerBot would operate as a distinct brand and subsidiary of Stratasys, serving the consumer and desktop market segments. When acquired, Makerbot had sold 22,000 printers. Bre Pettis moved to a position at Stratasys and was replaced as CEO by Jennifer Lawton, who in 2015 was succeeded by Jonathan Jaglom, then in January 2017, Nadav Goshen.

In April 2015, it was reported that in an effort to integrate MakerBot's activities better with those of Stratasys, Jaglom laid off around 100 of 500 employees and closed the existing three MakerBot retail locations. Then, 80 other employees were laid off in October 2015.

In February 2017, MakerBot's newly minted CEO Nadav Goshen laid off more than 30% of the workforce and changed the position of the company from consumer focused to two verticals based; professional and the education sector. This lay off was coined the "Valentine's Day Massacre" as it happened the day after. Overnight MakerBot went from 400 employees to under 200 worldwide.

On August 31, 2022, the MakerBot division was merged with Ultimaker, with Stratasys keeping a minority share in the new UltiMaker company.

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