RepHike, a Buffalo based social media influencer marketing software, has announced its acquisition by Tap Root Solutions. Tap Root Solutions, a Central New York hemp company, will acquire RepHike’s assets and team, and the merged business will operate under a new brand: Ultivara.
RepHike, founded in 2017, provides brands a software to find, vet, and collaborate with social media influencers that best align with their brand. Under its new identity, Ultivara, the company will leverage Tap Root Solutions expertise and focus on servicing brands in the hemp and cannabidiol (CBD) industries.
“Tap Root Solutions expertise in the hemp industry offers an exciting opportunity for Ultivara (formerly RepHike) to strengthen and focus its service offering in social media and influencer marketing for the hemp and CBD industries,” explains Shashank Roy, one of the cofounders of RepHike. “The acquisition supports Tap Root Solutions strategy to build a cohesive community for the hemp and CBD industry in New York State.”
Josh Allyn, founder of Tap Root Solutions, also commented: “Ultivara provides a major growth opportunity to service the hemp and CBD industries, where traditional online advertising has been limited for these companies.”
The terms of the acquisition are not disclosed. More information about Ultivara and the software products it offers can be found at the company website: www.ultivara.com
RepHike was founded in 2017 by Shashank Roy, Olivia Goldstein, and Abhishek Vijayan. RepHike raised nearly $300,000 from investors including StartFast, The Tech Garden, LaunchNY, and former 500 Startups partner Paul Singh. The influencer marketing software previously serviced companies in the apparel, tech, food & beverage, and beauty spaces.
About Tap Root Solutions
Tap Root Solutions is owned by Joshua Allyn, a Skaneateles native and expert in the hemp industry. Tap Root also operates a 50-acre hemp farm in Central New York.