Tuesday, June 02, 2015

GameStop Acquires GeekNet (ThinkGeek)

ThinkGeek is about to be acquired by GameStop for a $144 Million Dollar deal.

The parent company Geek Net, has terminated their contract with Hot Topic in providing "nerd wear" to the retailer, and will be making the transition to GameStop. All within the span of a week! The Hot Topic deal was announced on May 26th.

What does this mean for GameStop customers? More nerdy stuff in the stores that is not related to video games themselves. More shirts, mugs, and little nick-nacks. Possibly online too, but we'll see how that goes. From the way the press release reads, the ThinkGeek site will still be online and be ran as a separate entity, but product will be stocked in GameStop stores. There may also be cross selling of items, i.e. a shirt on the GameStop site can be purchased there, but fulfilled by ThinkGeek - vice-versa with a video game.

ThinkGeek also holds products for other nerdy stores such as HerUniverse, an online site that focuses on female geek-wear. Whether those products will transition as well is under question. Everything is fuzzy until we see the products on the store-shelves.

On a personal note, this blows. I don't support GameStop because I've been one of their employees. It was the worse 3 working years of my life, and made me physically ill to go in every day. And I'm not alone. They're almost always in the top 15 of worse companies to work for on GlassDoor and Indeed, and make a trip to the Consumerist Worse Company tourney every year. I haven't shopped at a GameStop since I left and I refuse to do so. And a lot of people choose to do the same thing. Some still buy from them even knowing all the crap GameStop does because they are the only option in their town. So with this news, I'll no longer be a ThinkGeek customer, and that sucks. Way to destroy more cool things, GameStop.

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