Albert Lucius says there are many talented people in Southeast Asia who can make money through their work online. Many of them don't have the power to get advertisers. They want to use an offline/online strategy and monetize by selling content instead of relying on advertising. Just eight months after raising $10 million in a Series A, the startup has raised $13 million in a Series A.
The round was led by EastVentures with participation from returning investors.
Albert Lucius was the co-owner of Kudo which was acquired by Grab. It is a marketplace for creators to connect with fans and monetize their content by selling it to them or hosting live video sessions.
Since October, the platform's revenue has grown 20x, with creators earning more than $200 on average within 30 days of being active.
Content creators and users make up the majority of TipTip's users. It wants to have 300,000 users and 30,000 creators by the beginning of next year. The company has a presence in 40 cities in Indonesia.
Local chefs, musicians and painters still have few followers and need to build their audiences, so TipTip was created for them. TipTip uses a hyperlocal strategy in Indonesian cities and towns to help them scale and monetize.
After COVID hit, many people became accustomed to the idea of making money virtually, as interest in consuming digital content also increased. The creator economy in Southeast Asia has a projected CAGR of 10% to 30%.
Many Southeast Asian creators can't monetize with tools on social media because they aren't suited for top creators who already have a lot of followers and views.
There is an end-to-end solution for creators that includes digital content management and distribution, live streaming services, one-on-one interactions and direct tipping. The platform helps creators with administrative issues such as audience management.
Many players have established themselves as industry leaders in these areas. They are complimentary to our services. We rely on our creators/promoters to use external platforms to engage their audiences, post updates, advertise their free offerings there and provide links back to TipTip to monetize their premium contents.
tiptip provides direct monetization channels through tipping and direct purchases and takes a cut from every sale on its platform
edutainment in categories such as music is one example of the content being shared. Musicians use the platform to share tips on how to compose better songs and sometimes accompany that with a live performance A live workshop is included in a multi- segment course on how to be better public speakers.
There is a network of people who help creators sell their stuff. The promoter takes a commission form for each sell and serves as an affiliates. The analogy is similar to how food delivery services help restaurants sell more food. The creators sell their digital content through the promoter.
TipTip uses awareness programs, above-the-line marketing campaigns, and a hyperlocal strategy to find key opinion leaders in each community in order to create a creators' network.
Part of the funding round will be used to hire more people. By the middle of next year, it will expand its offline/online presence into 250 cities and towns in Indonesia and create more product offerings, such as podcasts, branding deals and personalized requests.
Willson Cuaca, co-founder and managing partner of East Venture, said in a statement that they believed in Albert's leadership. His experience in building and running Kudo before being acquired by Grab continues to be important in navigating the turbulent economy. We expect TipTip to continue its exponential growth trajectory on the back of its hyperlocal strategy which Adapts to the changing creator and customer behavior in the post-COVID era.
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