Formlabs Acquires 3D Printables Site Pinshape

The 3D printing hype bubble is presently deflated, seeing a number of businesses, particularly those associated with consumer products, go the way of the laser disc. The technology as a whole, however, is still strong and the industry continues to grow, reaching USD$5.1 billion in revenue this year. Among the startups to feel the sting of the 3D printing bubble’s deflation was Pinshape, a 3D printables community with a somewhat strong reputation among its more than 90,000 users. On March 31, 2016, the site published a statement declaring the inability to secure the investment necessary to continue operations. Just one day later, however, the startup updated its community with news that it had been acquired. On May 3, the identity of its buyer was revealed as none other than Formlabs, manufacturer of the successful Form 2 stereolithography (SLA) 3D printer.

On May 3, Formlabs announced the acquisition of Pinshape. (Image courtesy of Pinshape.)

After its establishment in 2013, Pinshape became a quick growing resource for users to connect and share 3D printable designs. The nature of commerce surrounding printable products, however, has not quite been defined, leaving Pinshape shifting from a marketplace model, in which users could purchase digital files for physical objects at reasonable prices, to an almost completely unpaid model, in which 99.5 percent of the models offered on Pinshape were free for download. When the company announced its closure, the team wrote, “Part of our challenge was demonstrating a financial path forward.” Unable to find an investor, Pinshape was about to shut down operations before almost instantly being saved by Formlabs.

At the time of acquisition, Pinshape had over 90,000 users and 15,000 daily downloads. (Image courtesy of Pinshape.)

Formlabs’ original Form 1 3D printer is among the most successful Kickstarter projects in the 3D printing category and in history, currently ranked in the top 50 most funded campaigns on the crowdfunding site. Their desktop SLA machine is consistently among the most popular on the distributed manufacturing site, 3D Hubs, and the startup is growing internationally, selling the current iteration of its printer, the Form 2. With the acquisition of Pinshape, the Boston-based 3D printer manufacturer will now have a robust repository of 3D printable products with which to compete against other desktop 3D printer brands, like Ultimaker and MakerBot.

Dávid Lakatos, head of product for Formlabs, explained how the 3D printables community would fit into the company’s larger vision: “3D printing is greater than just Formlabs. By connecting Pinshape’s thriving community and rich hub of 3D content to Formlabs’ tools of innovation and resources, we help fantastic designs find form. As 3D printing demand continues unabated among professionals and prosumers, we’re excited about joining forces with Pinshape to extend our reach in the market and ecosystem.”

Though there aren’t any immediate changes taking place on the surface of Pinshape, the 3D printables site will be a standalone business within Formlabs. The site, already known for its innovative contests and active forums, will continue operating normally as the company transitions ownership. Former CEO and co-founder of Pinshape, Lucas Matheson, has told ENGINEERING.com that he will not be continuing on with the company, but that other key members of the Pinshape team will be “moving and continuing to support Pinshape under Formlabs in Boston.”

In a press release on the topic, Matheson said, “Pinshape has grown to be one of the largest and most respected 3D design marketplaces online, and we owe this success to our community of talented designers and makers. We’re thrilled that Pinshape is joining Formlabs and excited for our community. The Formlabs team is amazing; they’re building some of the best-in-class technologies in 3D printing and continue to break new ground in the industry.”

As for Formlabs, they now have an ecosystem of designers and 3D models to support and boost their SLA platform. Based on personal experience with users of Pinshape, it seems safe to say that the site’s continued existence will make its community happy. Hopefully, for the sake of this community, any changes made to the site will only be for the better.