Snipfeed announces a funding round of €4.2 million with top tier VCs including CRV, Abstract Ventures, Crossbeam, ID8 Investment, Diaspora ventures, UpNorth Management and ISAI, as well as several renowned business angels such as Eric Schiermeyer (co-founder of Zynga and MySpace), Michael Bosstick (co-founder of Dear Media) and CAA founder Michael Ovitz.
Launched in 2020 by Gen Z founders Rédouane Ramdani, Anas Bouassami and Pierre-Habté Nouvellon (after pivoting from a content discovery app), Snipfeed enables anyone to turn their social media into a business through a simple link-in-bio tool.
Snipfeed’s mission is to help both micro and macro creators monetize as simply as possible. While e-commerce platforms are great for large creators who want to exclusively sell merch, this can sometimes not be a sustainable solution for smaller creators. Rather than having to link out to third party platforms, Snipfeed enables creators to sell their services (exclusive content, tipping, live streams, personalized videos etc.) and goods directly within their bio link. In two clicks fans can make purchases from their favourite creators through credit card, Paypal, Venmo or Apple pay.
Snipfeed’s goal is to enable what they refer to as the “new American dream” by helping the long tail of creators turn their passion into a living (30% of Gen Zs and Gen Alpha aspire to become content creators). Snipfeed has seen female and minority creators in particular thrive on the platform and create significant additional sources of revenue.
Building on its success, the startup already has more 10,000 content creators using the platform with some of them making over 2.5K a day. The company is also growing internationally, as 20% of its creators are based in Europe and 60% of the French tiktokers who have more than 300k followers are already using the platform.
With this fundraising, the company aims to develop new services and triple its workforce in order to expand its user base in the US and Europe. Snipfeed, wants to become the ultimate social storefront for content creators.
After initially launching as a content aggregator – with a few million users built as a Facebook app – the founding team quickly noticed the creators they were working with weren’t necessarily looking for another point of distribution, but needed help monetizing on the platforms they were already on. As most of their creators operated cross-platform, it seemed obvious that a streamlined storefront – that worked for audiences across all major platforms – was a solution to their problem.
With this realization, Snipfeed decided to pivot in early 2020 to launch a link-in-bio tool enabling creators to monetize no matter what platform their audience is finding them. The platform combines all the monetization tools creators need under one roof. Additionally, Snipfeed provides clarity by helping creators understand where their earnings are coming from and how to optimize this through consolidated analytics.
Snipfeed consolidates all the monetization tools creators need in a one-stop-shop. By utilizing Snipfeed, creators can diversify their sources of income and A/B test various business models. Every transaction on Snipfeed happens directly within social media and users never have to be redirected nor log-in – it all happens within the creator’s page and within a few clicks.
On the back-end, Snipfeed acts as a business manager for content creators, helping them optimize their sales and click-through rates through free analytics offered on the platform.
Redouane Ramdani, CEO and co-founder of Snipfeed, explained: “The new American dream is to be able to live off your passion, 30% of the Gen Zs and Gen Alpha want to become content creators, this is a huge number. Even if they become doctors or chefs, they will have content out there and will try to monetize it as well as their expertise. We want to be what comes to mind first when you think about generating income from your following. Contrary to most platforms in the space we focus on the long-tail, smaller creators who don’t receive the same opportunities. Snipfeed enables them in a few clicks to start their business directly on top of their favorite platforms and isn’t solely based on a subscription model”.
For Paul Strachman, VC Partner at ISAI, “Convinced of the rise of passion & creator economy, we were very impressed by the innovative vision of the three co-founders who have developed a unique approach based on the observation that social media are de facto the new marketplaces. We are delighted to be part of the Snipfeed’s journey and to support the team in its development “.
