AllPosters.com "is a bit like Old Navy or the Gap, while (Art.com) is more like Banana Republic," said AllPosters.com CEO Michael Heinstein. Heinstein, 37, who founded AllPosters.com in 1998 while he was getting his Ph.D. in clinical psychology at UC-Berkeley, will remain CEO.
Both companies are survivors.Art.com was founded in 1995 and didn't get its first round of venture capital - $30 million - until February, just a month before the merger.AllPosters.com
stayed alive during the dot-com crash by keeping costs down - and was rewarded with more than $20 million in financing last year.
The combined firm, which also includes a German subsidiary acquired in March, is expected to reach $80 million in revenue this year and is profitable, said Heinstein
The combined firm will use the AllPosters.com corporate name but maintain both Web sites and brands, Heinstein
said, adding that the company plans to announce growth plans in three months.He
declined to comment further.