Flip, Contender in Social Commerce, Rolls Out $100M Equity Creator Fund

Establishing its lead in a competitive market, Flip, the social commerce app, launched a $100M equity creator fund. Unlike rivals including TikTok Shop, this browsing-shoppers-turn-creators platform is not just promising daily cash but a stake in its success story.

Introduced earlier this week, the fund offers creators grant amounts between $6,000 to $100,000 pegged to their engagement. Over the next five years, this community-driven commerce platform aims to hand out up to $100 million in equity, with an ambitious $1 million per day handout for the initial 30 days.

The eligibility criterion is tailored to attract prolific influencers: for Flip creators, the minimum requirement is 4,000 followers and posting 10 videos in the recent 30 days, each collecting around 3000 views. Creators from popular platforms like Instagram, TikTok, and YouTube are also welcome provided they count at minimum 20,000 followers.

Flip’s strategy of offering equity instead of just cash separates it from the crowd, potentially proving to be a goldmine for influencers based on factors such as the company’s success and market conditions.

With TikTok’s future in the U.S. uncertain, Flip’s equity offer aims to draw more users into active participation on the platform. Already, the grant program managed to pull in nearly 10,000 influencers within 72 hours of launch.

Flip, since its launch in 2021, has shown remarkable growth trajectory, clocking 580,000 new downloads in January alone, and gaining approximately 250,000 new users daily.

Original source: Read the full article on TechCrunch