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☆ How a 25-year-old went from talking to 1,000 strangers in NYC to quitting her finance job and founding a social startup
▼ + stars: | 2024-02-08 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

"Ultimately, I spent more time home alone doing nothing than ever before," Epstein, CEO of the still-in-beta social networking app Kndrd, told Business Insider. "I spoke to a thousand strangers" — many who also felt a lack of community, companionship, or friendship, she added. But while investors may want to see viral, overnight growth for an app like Kndrd, Epstein hesitates at that strategy. "And that means me reading applications and vetting the community members and making sure that we have people who are the strongest, most high fidelity people." In the future, Kndrd also plans to incorporate AI into its user experience — something on nearly every investor's mind right now.

Persons: Isabella Epstein, Epstein, Kndrd, Tina Mai —, —, Mai aren't, Kndrd cofounders Tina Mai, Devin Kasparian Bootstrapping Organizations: Business, Stanford University, Stanford Locations: New York City, NYC, Mai, Epstein's NYC

☆ The IRL social startup 222 is moving from LA to NYC as it launches an app and raises $2.5 million
▼ + stars: | 2024-02-05 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

For the founders behind the IRL social startup 222, it's all about the "magic of the backyard." The 222 team then organizes a multi-stage meetup, which includes a restaurant as well as another venue like a museum or a bar. At its events, 222 wants attendees to feel comfortable and leave "judgment at the door," said Hashemi, 222 's COO. "A lot more people are coming around to this idea of in real-life social," Hashemi said. Kazemian, Hashemi, and Roshannai, meanwhile, want to help swing the pendulum back to IRL — back to real relationships.

Persons: Keyan Kazemian, Danial Hashemi, Arman Roshannai, — Kazemian, Hashemi, Roshannai, Kazemian, —, Catalyst, Arash Ferdowsi, Cory, Catalyst's Niko Bonatsos, Sydney Bradley Organizations: Business, Scrum Ventures, Dropbox, University of Southern, YC, Tech, IRL Locations: Los Angeles, California, New York, New York City, University of Southern California, SoHo , New York

The pay data includes salaries ranging from a data scientist position that offers $170,000 per year at Discord to a staff engineer role that earns $250,000 or more at Patreon. AdvertisementHere are the annual salaries for a job at FaZe Clan:Legal Counsel: $142,273 median starting range; from $133,308 to $194,437FaZe Clan did not respond to BI's request for comment. At LTK, a senior software engineer would make $130,000Courtesy of LTKLTK, formerly known as RewardStyle, is an affiliate-marketing and social-commerce platform used by influencers across Instagram, YouTube, and TikTok. At Teachable, a level II senior software engineer would make $190,000Teachable is a platform where creators can build and sell online courses and coaching programs. Here are annual salary ranges for several jobs at Teachable:Data Analyst : $69,826 to $85,000: $69,826 to $85,000 Senior Software Engineer : $160,000 to $180,000: $160,000 to $180,000 Senior Software Engineer - Core : $150,000 to $170,000: $150,000 to $170,000 Senior Software Engineer II : $190,000: $190,000 Software Engineer: $125,000 to $135,000Teachable did not respond to BI's request for comment.

Persons: upstarts, we're, Justin Kenna, they've, ByteDance, Teachable, Konstantin Savusia, James Nord, Brandon Brown, Ryan Brown, Brian Mechem, Warby Parker, Grin, Amanda Perelli, Anthony, Alex Zaccaria, Nick Humphreys, Linktree's, Amber Venz, Baxter, Read, Sydney Bradley, economy's, Patreon, Chris Best, Jason Henry Substack Organizations: YouTube, Business, FaZe, Safety, Software, Security, Enterprise Security, FaZe Clan, Fohr, Inc, Grin Technologies, Facebook, Keli Network Inc, Business Affairs, Jellysmack, Linktree, Ops, RewardStyle Inc, Networks, Mighty Networks, Mighty Software, Engineering, Sydney, Sydney Bradley One, BI, Staff, Social, Data Engineering, Trust, Quality Assurance, Hotmart, & $ Locations: California, New York, Texas, FaZe, Fohr, Jellysmack, Karat, Linktree, LTK, Instagram, Dallas , Texas, Teachable

☆ Meet the founders of 18 startups disrupting the social-media scene with alternative ways to connect online
▼ + stars: | 2024-02-01 | by ( Amanda Perelli | Sydney Bradley | ) www.businessinsider.com time to read: 1 min

There's a new generation of social networks being built. Meet the founders who are building these innovative social-media apps. Social media just isn't what it used to be. Instagram carries too much pressure, TikTok is filled with shopping ads, and X (formerly Twitter) is … well, do we even have to go there? Part of why social media feels lackluster is because the social networks that were designed to connect us with people have turned their focus to media — often forgetting the "social" piece.

Organizations: Business

Read previewTikTok's owner ByteDance is pushing a new campaign this week to promote its Pinterest-like app, Lemon8, according to three sources familiar with the effort. AdvertisementThe "100 Bucket List Ideas" promotion is the latest in a series of pushes by Lemon8 to pay influencers to plug the app. AdvertisementThe company has been using influencer promotions for Lemon8 since early 2023 when ByteDance sought to jump-start app downloads as it rolled out in the US and UK. While Lemon8 has by no means achieved the usage levels of its sister app TikTok, it has gradually gained an audience in the US and abroad. AdvertisementByteDance is also trying to grow other content-creation apps outside of TikTok and Lemon8, including its widely popular CapCut video-editing tool.

Persons: —, ByteDance, influencers, they've, Lemon8 Organizations: Service, Business, Apple, Lemon8, TikTok Locations: Lemon8, TikTok

As 2024 kicks off, the creator economy is having an identity crisis. "The venture-scale generational companies are, yes, creator companies, but they're also typically fitting into another bucket." Why the creator economy has been 'disappointing'Once pitched as a rocket-ship opportunity, service companies in the creator economy that focus on products for influencers haven't delivered, investors and industry professionals told BI. Although the phrase already existed, the world needed a new way to describe this prospering industry, and thus, the term "creator economy" entered the mainstream. Lia Haberman, an influencer marketing expert and instructor at UCLA Extension, described influencer marketing as separate from the services arm of the creator industry that has faltered.

Persons: Grant Long, Koji, hasn't, Rex Woodbury, they're, it's, Woodbury, Figma, haven't, Ollie Forsyth, They've, Benjamin Grubbs, I'm, Goldman Sachs, Lia Haberman, Haberman, upstarts, Logan Paul, KSI, Marshall Sandman Organizations: TikTok, YouTube, Business, VC, UCLA, North, PitchBook, Animal

☆ Why an $800 million social-commerce startup is betting on live shopping in the US and what it learned by first building a business in China
▼ + stars: | 2024-01-12 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +6 min

Could live shopping finally have its moment in the US market? "The initiative really was born out of our experience in China," Reis said. In China, Douyin "took market share away from the large other platforms," Reis said. On TikTok, shopping is entertainmentThere's a reason live shopping is gaining ground on TikTok: it's captivating. "Live shopping is all about entertainment."

Persons: Julian Reis, Reis, SuperOrdinary, it's, Olaplex, Byrd, TikTok, hasn't, ByteDance, we'd, We've, " Reis, everyone's Organizations: Business, Shop, Milk, Bloomberg, Brands, QVC Locations: China, TikTok, Shanghai, Los Angeles, Douyin

☆ Seeking nominations for the top founders innovating and reshaping social media
▼ + stars: | 2024-01-08 | by ( Sydney Bradley | Amanda Perelli | ) www.businessinsider.com time to read: +1 min

Business Insider is looking for startup founders building new and innovative social-media platforms. AdvertisementA lot of social media has become quite … boring. Last year, we wrote about how social media as we knew it — namely, the classic feed — was on the decline and instead, users were opting for group chats and smaller, niche apps and online communities. Who are the founders building the anti-Instagrams? AdvertisementThe list of founders will be determined by BI based on our reporting and the nominations we receive.

Persons: — Organizations: Service, BI, Google

Surprise: Not every YouTuber edits their own videos. Often a behind-the-scenes gig, the lives and career paths of YouTube editors aren't as public as the stories behind the platform's stars. But like freelance work in media more broadly, many YouTube editors are still figuring out how to structure their payment rates and hours. And unlike in Hollywood where unions often dictate labor terms, YouTube editors are often on their own. Business Insider connected with editors, creators, agents, managers, and other digital-media industry professionals to learn more about the work of editors on YouTube.

Persons: Nicholas Stanley Erhart, Brittany, Broski, Tomlinson, YouTubers, Tony Santos, Thomas Frank, Cam Peddle Organizations: Business, YouTube Locations: Hollywood

☆ Influencers are the new travel agents: Here's how creators are using their adventures to build businesses, from planning group trips to becoming certified advisors
▼ + stars: | 2024-01-08 | by ( Shriya Bhattacharya | Sydney Bradley | ) www.businessinsider.com time to read: +7 min

DMs persuaded some travel creators to arrange group trips with their followersTravel creator Gabby Beckford led her first group trip with her followers in August 2021. Ismail initially worked with the group travel company TrovaTrip, which handled the logistics. AdvertisementAs more travel creators build communities to travel with, startups like Jerne are popping up to help support their businesses. Morgan said quite a few creators are now using Jerne to find brands to sponsor group travel, as well. "Travel advisors have been hosting group trips for as long as they've existed," he said.

Persons: —, Tia Cooper, she's, Cooper, they've, Instagram, influencers, Tim Morgan, Gabby Beckford, she'd, Beckford, Nabila Ismail, Ismail, Morgan, It's, Dharma, Charaf El Mansouri Organizations: Service, Business, BI, DMs, Intrepid, Brand, Virgin Voyages Locations: Ireland, Abu Dhabi, Croatia, Mexico, Indonesia, Pakistani

☆ These 11 startups are helping creators build communities and make money from memberships, courses, and private group chats
▼ + stars: | 2023-12-01 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +1 min

Startups are testing ways to help creators connect with fans and make money. Business Insider is highlighting 11 community-focused startups, from Patreon to Discord. "If you want to become a sustainable creator, you can't just rely on AdSense anymore," Jim Louderback, creator-economy expert and former CEO of VidCon, told Business Insider. Luckily for them, there's an entire ecosystem of creator-economy and consumer-tech startups with the mission to do just that. This story is available exclusively to Business Insider subscribers.

Persons: Jim Louderback, — Organizations: Business Locations: Patreon

☆ These 16 creator startups raised millions of dollars in 2023 despite a 'brutal' fundraising landscape
▼ + stars: | 2023-11-27 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +3 min

It's been a challenging fundraising year for creator-economy startups. Some creator upstarts have still managed to raise millions of dollars in 2023 despite constraining macroeconomic conditions. Link-in-bio upstart Hype in April announced it had raised a $10 million Series A. "We knew going into it that we are fundraising in arguably the most challenging fundraising environment in recent times," said Arthur Leopold, cofounder of the creator-marketing platform Agentio and a former president at Cameo. The funding ranged from a few million dollars to as much as $70 million for one startup.

Persons: It's, upstarts, Andreessen Horowitz, VCs, Kara Burney, Arthur Leopold, Leopold, Agentio, Steven Galanis, YouTuber Cody Ko, PitchBook Organizations: PitchBook, Business, Abstract Ventures, Founders Fund, Silicon Valley Bank, Craft Ventures, AlleyCorp Locations: Web3, Silicon, North America

☆ Instagram is taking aim at a wave of alternative social-media apps as it launches and tests new features
▼ + stars: | 2023-11-25 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

Over the last several months, Instagram has been testing and rolling out several features to bring us closer to our friends. And yes, that means more "Close Friends" tools. Earlier this month, Instagram expanded the Close Friends feature, which lets users curate content for a smaller follower pool, to the feed. You can post your memes and photo dumps directly to your grid and only your close friends can see them. A Meta spokesperson confirmed that Instagram is working on two internal prototypes that could push some new apps to the sidelines.

Persons: Instagram, Kylie Jenner, Amo, Alessandro Paluzzi Organizations: Meta, Apple, Business, TikTok, Facebook, Paluzzi Locations: amo

☆ 'Community' is the latest trend that creator-economy startups and platforms are betting big on: 'Creators are the new priests'
▼ + stars: | 2023-11-17 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +9 min

From product updates to startup rebrands, community has been at the forefront of press releases these past several months. Kajabi, a popular online course platform, recently announced that its creators had earned more than $6 billion using its platform. "We need a bit of everything," Amsellem said, adding that online communities and social platforms "are not going to solve loneliness" by themselves. For instance, Lennon's community on Kajabi hosts about 3,000 members — roughly the size of a small town in the US. Across all of Kajabi, the platform hosts more than 32,000 communities and over 2 million community members, per the company.

Persons: Jack Conte, Conte, Patreon, Kajabi, Teri Yu, Eli Valentin, Fourthwall, Valentin, chatbots, Yu, Hugo Amsellem —, —, Patreon's Conte, There's, Rob Lennon, Lennon, aren't, Amsellem, it's, BI's Marta Biino, YouTubers KSI, Logan, Cenat Organizations: Business, X, Vibely Locations: Kajabi, Silicon Valley, London

☆ Layoffs hit Recurrent Ventures as the company shifts resources toward video and 'new formats.' Read a leaked memo outlining its future plans.
▼ + stars: | 2023-11-13 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Recurrent Ventures, a private-equity-backed digital media company, is letting go of staff across several editorial brands, a company spokesperson confirmed to Insider. The company operates publications that cover topics like science, outdoor living, and automobiles, including Popular Science, Field & Stream, The Drive, and Dwell. Among Recurrent's brands, Popular Science, a legacy science and technology magazine, was heavily impacted by Monday's cuts. "As consumer trends shift it's important we prioritize investment in new formats," the Recurrent spokesperson told Insider. "Like most media companies, Recurrent is adapting to the evolving landscape of its audience," the spokesperson said.

Persons: Alex Vargas, Andrew Perlman, Perlman, MEL, Conde Nast, Alex, I'm, I've Organizations: Popular Science, Axios, GM, Service, Corporate, Commerce, GMs

☆ Why 3 ex-Discord staffers are building a new app aimed at IRL experiences for couples and friends
▼ + stars: | 2023-11-08 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

"During the pandemic, I realized how I was taking IRL experiences for granted and working remotely, spending less time with friends, I just felt extremely isolated," Loar said. "It was really centered around helping you and your friends make IRL plans to build stronger relationships." Now, Whatever's team is pivoting its focus to couples and how best to use technology to help couples plan dates and spend meaningful time together. "Couples will be able to bookmark plans from the discovery feed and turn them directly into date plans," Loar added. Whatever is focusing on helping couples plan dates.

Persons: Mallory, Loar, Vivek Murthy, Kevin Wilson, Zack Zapasnik, Stanislav Vishnevskiy, Matthew Prince, it's Organizations: Twitch, Facebook

Creator finance startup Karat Financial laid off staffers this month, four people familiar with the matter said. The cuts came a few months after the company raised $70 million in new funding. Karat declined to comment. The creator finance startup Karat Financial laid off staffers this month, four people familiar with the matter told Insider. The startup, which provides financial services such as taxes and bookkeeping for creators, was founded in 2019 by Eric Wei and Will Kim.

Persons: Eric Wei, Will Kim

The creator economy buzz has simmered down but some startups are still catching investors' attention. Insider asked over a dozen VCs and angel investors to share which startups are on their radar. Here are 14 startups to watch in the creator economy as 2023 comes to a wrap. Yes, the buzz around the creator economy has fizzled out and consolidation has swept through the industry, but some startups are still catching the attention of investors. Insider asked more than a dozen venture capital and angel investors specializing in the creator economy, from firms including Hustle Fund, Lightspeed Venture Partners, and MaC Ventures, about the creator startups they think are most promising this year.

Organizations: Hustle Fund, Lightspeed Venture Partners, MaC Ventures

☆ Facebook is the top social-media platform for millennials and Gen Z to shop on. Here are 4 other takeaways from a new 26-page report.
▼ + stars: | 2023-10-20 | by ( Marta Biino | Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Facebook is the platform where millennial and Gen-Z consumers are most likely to purchase a product, according to a new survey of US social-media users. "YouTube has been the slow and steady platform in the turmoil that social media has been over the years," Assayag said. For instance, among Gen-Z consumers, Snapchat displaced Facebook as a top five platform for consuming content. However, when it came to posting content, YouTube was replaced with Instagram as the most popular platform among all consumers surveyed. However, only 41% of consumers "somewhat agree" that they would pay for exclusive content from an influencer they follow.

Persons: Pierre, Loïc Assayag, TikTok Traackr, Assayag, They're, TikTok, Instagram, Traackr, influencer Organizations: Facebook, YouTube, Meta, influencers

Here's a secret some content creators are holding close to their chests: Facebook is an overlooked goldmine for cash. "There's so many ways to make money on Facebook that my manager calls it a cash cow," My Nguyen, the creator behind the viral food and recipe account MyHealthyDish, told Insider. Take Morgann Book, a lifestyle influencer with 2.8 million TikTok followers. Meanwhile, Nuseir Yassin of Nas Daily, whose account has 7 million TikTok followers, told Insider in 2022 that his monthly earnings from several Facebook accounts rounded out to between $60,000 and $70,000. Meanwhile, Cassandra Bankson, who uploads skincare-related content for her 437,000 TikTok followers, uses the company Decked to syndicate her content across Facebook.

Persons: She's, Nuseir Yassin, Here's, Instagram, Tom Alison, Wasil Daoud, he's, Daoud, TikTok, doesn't, Rob Clark, Jellysmack, Cassandra Bankson, she's, they'll, Adorian, Khamyra, Logan Nathanson, Nathanson Organizations: Facebook, YouTube, Nas Daily, Amazon Locations: Nas

☆ The CEO of $800 million startup SuperOrdinary explains why he's betting on live shopping and creators as it raises new funding to expand
▼ + stars: | 2023-10-13 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

SuperOrdinary wants to be the next unicorn out of the creator economy — and it's betting on live shopping and influencers to get there. Why SuperOrdinary is bullish on live shoppingWhile live shopping has had a lukewarm appeal in the US, SuperOrdinary sees itself as a potential breakthrough. "SuperOrdinary has been live shopping or livestreaming since the beginning of the company," Reis said. The key to cracking live shopping isn't just discounts, Reis added, but fine-tuning the experience for the American consumer. "We really think that the consumer here is slowly moving across to more entertainment-style shopping," Reis said.

Persons: SuperOrdinary, Julian Reis, Reis, Fanfix, " Reis, We've, TikTok, Addison, Sephora, MrBeast, Jen Atkin's, David Yi's skincare Organizations: Intelligence, Bizrate, Brands Locations: Shanghai, Los Angeles, Indonesia

☆ How this 'AI whisperer' made $500,000 in 11 months selling courses and memberships using unicorn startup Kajabi
▼ + stars: | 2023-10-10 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

That means Kajabi creators have earned an additional $1 billion since March, when the company announced creators had earned $5 billion. One of those creators is Rob Lennon, a self-described "AI whisperer" and entrepreneur, who uses Kajabi to host his courses and manage his paywalled membership called "Lennon Labs." Within the first 11 months of launching his Kajabi offerings, Lennon has earned about $500,000, according to Kajabi and Lennon. He earned about $200,000 in the first two months of selling his courses, per Kajabi. Building a course and membership businessRunning courses and a subscription service accounts for about 95% of Lennon's income, he said.

Persons: Rob Lennon, Lennon, hadn't, ChatGPT, He's, Kajabi, there's, —, Kajabi — Lennon Organizations: Lennon Labs, LinkedIn, Facebook, Mighty Networks Locations: Kajabi, Patreon, Substack

☆ Instagram boss Adam Mosseri teased a return of the Reels Bonus program after getting grilled by a creator — and clarified Meta's stance on nipples
▼ + stars: | 2023-10-06 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

One brave creator at Meta's "Instagram University" event, which gathered emerging creators, social-media managers, and journalists at Meta's Hudson Yards headquarters on October 6, did just that. "I just have a baby beef with Instagram," a beauty creator blurted out during a Q&A session wrapping up the event. Citing Meta's "really rough" last year, Mosseri said matter-of-factly, "I couldn't afford to run that program in the US." Mosseri did not indicate when exactly the right moment would be to bring back bonus payments to the US, however. This wasn't the only question creators had for Mosseri, who welcomed audience members to tell him what they wanted Instagram to change.

Persons: Adam Mosseri, blurted, it's, Mosseri, Instagram, We've Organizations: Meta's Locations: TikTok, Japan, South Korea

☆ Instagram is targeting Gen Z with 4 new features, as it looks to younger users to shape its product strategy
▼ + stars: | 2023-10-06 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: 1 min

Instagram's cohead of product Ashley Yuki just announced new Instagram features. These will be targeted to Gen-Z users of the platform. As Instagram celebrates its 13th year, it's rolling out a slew of new tools aimed at young users. Instagram will be launching four new features aimed at the platform's Gen-Z users, VP and cohead of product Ashley Yuki told attendees at the platform's "Instagram University" event on October 6 in New York City. "And that really shapes our product strategy."

Persons: Instagram's, Ashley Yuki, Yuki Organizations: Instagram Locations: New York City

☆ How creators are moving their followers from Instagram and TikTok to communities like Patreon and Discord using link-in-bio tool Linktree
▼ + stars: | 2023-10-02 | by ( Amanda Perelli | Sydney Bradley | ) www.businessinsider.com time to read: +1 min

As influencers grow their audience they're also thinking of better ways to engage with those followers. Link-in-bio tools like Linktree help creators redirect followers to closed communities. Linktree analyzed data around how influencers are utilizing links to grow their business. Creators don't just want massive followings on Instagram, TikTok, or YouTube — they want to turn those audiences into loyal communities. But how does a creator move followers from one platform and engage them in a separate, more intimate space?

Persons: they're Organizations: YouTube

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