Social commerce agencies Orca and Sapphire Studios have merged to form a new company called Third, backed by private equity firm Growth Catalyst Partners.

Chad Hetherington, who founded commerce agency The Stable in 2015 and sold it to Accenture in 2022, will serve as CEO. “I’m thrilled to be partnering with Orca and Sapphire Studios – two of the most proven operators in the TikTok ecosystem,” Hetherington wrote on LinkedIn, describing Third as “a modern commerce company built for the third era of commerce.”

Leadership and Structure

Three of the four founders from the two agencies will take senior roles at Third. 

Orca co-founder Lauren Stevens has become SVP of Strategic Partnerships, while Orca partner Tim Ryan has become SVP of Commerce. Sapphire Studios co-founder Anish Dalal has joined as Managing Director of Product and Performance. Orca co-founder Max Benator will serve as strategic advisor. Sapphire Studios co-founder Thomas Ma is pursuing other opportunities.

The combined company employs approximately 70 people across Los Angeles, Chicago, Minneapolis, Mexico City, and London, with Los Angeles and Mexico City serving as its primary studio and production hubs.

Services and Clients

Third’s integrated offering spans platform strategy, shoppable livestreams, social commerce operations, creator and affiliate commerce, and creative services.

Orca, founded in 2020, has worked with brands including Estée Lauder, e.l.f., and Mars, Inc. Sapphire Studios, founded in 2016, counts Amazon, Coinbase, and TikTok among its past clients.

Benator described the merger as a response to the sector’s expansion. “As our industry grows, it’s critical to provide a set of services that can keep pace with that growth,” he stated. “Third is built for that purpose.”

Source: MediaPost