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Influencers find new ways to make money 🤑

Influencers find new ways to make money 🤑
March 22, 2021

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According to a report by venture capital firm SignalFire, the creator economy of digital influencers is the fastest-growing type of small business. As a result, new startups are making it easier for digital creators to monetize their work.

A digital creator is someone who creates content for his or her fans via social media to consume. A digital creator is often seen as an opinion leader in a specific area such as fashion, gourmet, or general lifestyle. Most creators have monetized this content by selling partnerships and ads with brands. But now, more and more are taking matters into their own hands and directly getting support from their fans, especially as the platforms and ever-changing algorithms are getting more unreliable.

Fans get full control
The startup NewNew allows creators to engage with their fans by offering a polling environment where fans can pay to vote and have full control over a creator’s daily activities. This voting ranges from allowing fans to decide what video games the creator should play to permitting them to name a new pet.

Exclusive subscription model
Just like journalists growing tired of shrinking news outlets and layoffs and turning to building their own newsletter subscriptions through Substack and Patreon, creators are finding innovative ways to earn money from their fans. For example, Instagram influencers are creating Patreon-like paid Instagram accounts that provide exclusive content behind a private account for a monthly subscription fee. Others have leveraged the popular Discord servers to host paid-access communities.

More community options to come? 
While creators are getting more creative, tech companies are also openly encouraging this new digital economy. Twitter has announced a paid option for tweets called Super Follows as well as group features, and we are sure to see more innovation from other platforms soon.

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Since last week, PrivCo has added:
282 Companies | 197 Funding Activities | 96 M&A Deals

Funding & Deal Highlights:

AirTable raises $270MM led by Greenoaks Capital Management
Collaboration Software & Internet Services • Round E • San Francisco, CA

Variantyx raises $20MM led by Global Health Sciences Fund
Biotechnology • Round C • Framingham, MA

LoginID raises $6MM led by FJ Labs
Identity Management Software & Internet Services • Seed • San Mateo, CA

Deepsee.AI raises $22.6MM led by ForgePoint Capital
AI Software & Internet Services • Round A • Salt Lake City, UT

upSWOT raises $4.3MM led by Common Ocean
SaaS Facilities Software & Internet Services • Seed • Wilmington, DE

Gatsby Digital raises $10MM
Fintech Software & Internet Services • Round A • New York, NY

UCodes raises $3.36MM led by Point Nine Capital
Construction Software & Internet Services  • Round A • San Francisco, CA

100Plus raises $25MM co-led by Henry Kravis and George Roberts
Health Care Software & Internet Services • Seed • San Francisco, CA

Uplift Labs raises $3MM
Fitness Training Software & Internet Services • Seed • Palo Alto, CA

Genesis Global Technology Limited raises $45MM led by Accel Partners 
Fintech Software & Internet Services • Round B • New York, NY

StrideBio raises $81.5MM co-led by Northpond Ventures and Novo Holdings
Biotechnology • Round B • Durham, NC

Cyware Labs raises $30MM co-led by Advent International Corporation and Ten Eleven Ventures
Cyber Security Software & Internet Services • Round B • New York, NY

SchooLinks raises $8.3MM led by Live Oak Ventures
EdTech Software & Internet Services • Round A • Austin, TX

Docker raises $23MM led by Tribe Capital
IT Management Software & Internet Services • Round B • Palo Alto, CA

Pindrop Security acquires Next Caller
Communications Software & Internet Services • Acquisition • New York, NY

Team Technologies acquires ViruDefense
Health Care Products • Acquisition • Burlington, MA

Rockley Photonics merges with SC Health for $1.2BN
Semiconductors & Semiconductor Equipment • SPAC • Pasadena, CA

Chubb Corporation acquires Hartford Financial Services Group for $23.24BN  
Insurance Underwriting • Acquisition • Hartford, CT

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