Is This The Next Big social Media App? LitPic Lands $1.5M To Let Fans Pay Creators With In … – GeekWire

Veteran entrepreneurs and longtime traders are backing a Seattle startup behind a brand new social community that helps creators and influencers earn income from their followers.

LitPic introduced a $1.5 million spherical from traders together with Fritz Lanman (CEO of ClassPass), Kal Vepuri (founding father of Hero), Adrian Aoun (founding father of Ahead), Michael Arrington (founding father of Techcrunch), Tod Sacerdoti (founding father of Pipedream), Andreas Penna (president at Rain Prompt Pay), Tribe Capital, and “digital” supermodel Coca Rocha.

LitPic mixes components of Onlyfans and Twitch, and options built-in instruments that enable creators to earn cash. It makes use of an in-app forex referred to as “Lits” that allow customers help creators and get behind-the-scenes content material. Customers can even earn rewards and perks for his or her contributions, which incentivizes them to present creators.

“Lots of of billions of {dollars} in enterprise worth has been created off the again of influencers but to this point they haven't shared in that upside. Because of LitPic, that's about to alter,” Lanman mentioned in a press release.

Creator-focused corporations have raised a whopping $1.3 billion in funding this 12 months, in keeping with CB Insights.

A part of LitPic’s enchantment is to permit extra creators to earn cash, not simply the highest influencers on platforms corresponding to Instagram and TikTok who earn money from model offers.

LitPic actually faces an uphill battle by way of attracting sufficient individuals to its app in a crowded market, however the 14-person firm believes it's distinctive.

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