Link-in-bio activity is heating up as more mobile website builders compete for a coveted slice of real estate on a creator’s TikTok, Instagram or Twitter. Linktree leads the space, securing a recent $45 million Series B raise to develop e-commerce features, but Beacons offers competitive monetization tools for creators with just $6 million in May. Now Snipfeed is stepping into the ring with its own $5.5 million seed round, including investments from CRV, Abstract Ventures, Crossbeam (Ali Hamed), id8, Michael Ovitz (CAA Founder), Michael Bossstick, Diaspora Ventures and others.
Linktree has been around since 2016 and has more funding than its up-and-coming competitors. But for creators looking to monetize their followers, these new platforms may be more appealing to some creators because they already have built-in tools to help them monetize their followers. Linktree currently supports tipping, but Snipfeed offers a wider range of monetization options; some creators make more than $20,000 a month on the platform, according to CEO and co-founder Rédouane Ramdani.
Snipfeed started out as a content discovery platform with 44,000 weekly active users, but when Snipfeed added a creator monetization tool to its platform, it became its most popular feature. So in February 2020, with little to no funding, the company completely pivoted to its current organic linking business. Since then, Snipfeed has amassed 50,000 registered users, with the user base growing 500% in the last six months (Linktree, for comparison, had 12 million users at the time of its Series B boost in March; now Linktree says it has over 16 million users).
Based in Paris and Los Angeles, Snipfeed’s 15-person team is particularly interested in the “long tail” of creators, which it says encompasses more than 46 million people.
“Content creator doesn’t necessarily mean you’re going to be the next Addison Rae or a TikTok star,” Ramdani explained. “That means you could be a doctor or a lawyer, and on top of that you’re going to have a TikTok where you explain how to file your taxes and that kind of stuff. They have that expertise, and they’re like, ‘How can I turn this into a side hustle?’ ”
In addition to a standard tipping tool, Snipfeed allows users to sell digital goods, such as on-demand videos, e-books, access to live streams, and one-on-one consultations. But Snipfeed’s biggest differentiator is its Cameo-like system for selling personalized content. For example, TikToker may like the month is using Snipfeed to sell asynchronous video-recorded tarot readings. While asking a single personalized astrology question costs $5, a more in-depth reading can cost up to $20 or $40.
Snipfeed is free to set up, but if you make sales, the company takes 15% – this percentage includes all transaction fees. Through Snipfeed’s referral program, creators can earn 5% of the sales of anyone they onboard to the platform (this comes from Snipfeed’s commission).
“We decided to go with this model because we really want to have a relationship where we help creators really make money. We only make money if they make money,” said Ramdani said.
If a creator or celebrity sold personalized videos on Cameo, they would lose 25% to the platform. Meanwhile, Beacons takes 9% of sales from its free version and 5% from its $10-a-month version, which offers more customization, integrations, and analytics.
However, depending on the type of creator, the features offered by each link-in-bio startup may matter more than the cost. Tags allow users to share a shopping-enabled TikTok feed, which could be a huge revenue stream for creators who often share product recommendations with affiliate links, earning them a commission on sales . Ramdani said astrologers have been particularly successful on Snipfeed because fans can book a variety of asynchronous services at a wide range of price points. But those features could benefit any creator who can benefit from answers to specific subscriber questions — a chef could come up with recipe ideas based on what’s in a fan’s fridge, or a life coach could make a personalized video if a subscriber asks for advice.
With its $5.5 million seed funding, Snipfeed plans to expand its e-commerce tools so creators can sell physical products on their link in bio (Beacons and Linktree are also working on this with their recent rounds of funding – but Beacons’ and Snipfeed’s seed towers are small compared to Linktree’s B-series). The company also wants to develop educational content to show its users how to best monetize their platform. If Snipfeed can help its creators make money, it will also make more money.