happs Raises $4.7M to Empower Livestream Creators

Happs Secures $4.7 Million to Expand Live Streaming Platform

Happs, a platform enabling creators to simultaneously broadcast live video to multiple social networks, has successfully completed a post-seed funding round, raising $4.7 million. Initially conceived as a resource for independent journalists, the application broadened its scope last year to encompass all online content creators, fostering connections via a dedicated social network.

Funding Details and Participants

Bullpen Capital and Crosslink spearheaded the investment. Additional participation came from Goodwater, Corazon, Rob Hayes of First Round Capital, and Bangaly Kaba, a former executive at both Instagram and Sequoia.

Distinguishing Features of Happs

Happs differentiates itself from existing competitors by focusing not only on providing tools for professional-quality video streams, but also on establishing a collaborative community that unites individuals from diverse social media platforms.

“We perceive this as central to the creator economy,” explained Happs CEO Mark Goldman to TechCrunch. “The practice of restricting creators to a single platform represents a conventional approach to content creation.”

Founding Team Background

Co-founders David Neuman and Drew Shepard, alongside Goldman, bring extensive experience from the media industry. Goldman previously served as the founding COO of Current TV, a television network known for its user-generated content, which was later acquired by Al Jazeera in 2013.

Goldman reflected on his time at Current TV, stating, “The core concept was to democratize media and broaden access,” a philosophy he directly links to the development of Happs. “[We] greatly valued the creativity that resulted from this approach.”

Addressing Creator Siloing and Maximizing Reach

Creators often find themselves confined within the ecosystems of the platforms where they have established the largest followings. Happs aims to empower them to connect with as many followers as possible, regardless of the platform they use. Multistreaming allows creators to maximize their reach and streamline content production.

However, it’s important to note that improper implementation can lead to audience fragmentation, potentially alienating followers on one platform while prioritizing another. Successful creators have adopted this model to expand their overall audience base.

Happs’ Cross-Platform Connectivity

Happs facilitates connections across platforms in several ways. Users can simultaneously broadcast live to Facebook, YouTube, Twitter, and Twitch. Furthermore, the application aggregates live comments from all supported social media sites, presenting them in a unified, cross-platform stream within its interface.

This integrated comment feature provides a convenient solution for managing comments across multiple devices during live streams, a task that can be challenging. During a live broadcast, creators can highlight specific comments for all viewers to see, regardless of their chosen platform.

Comparison with Existing Tools

Companies like OBS, Streamlabs, and Restream concentrate on providing the technical tools necessary for multistreaming, catering to power users who require a robust backend. Streamyard offers a simpler browser-based interface for multistreaming to platforms like Facebook, YouTube, and Twitter.

Unlike these services, Happs operates more like a social network, incorporating features such as user profiles, follower counts, and a content feed alongside the “go live” functionality.

The platform is accessible through iOS and Android applications, as well as a web interface, catering to both creators seeking tools and fans wanting to support their favorite content.

Features and Monetization Options

While Happs may lack some of the advanced features found in competitor platforms, such as customized graphics, it offers unique capabilities. During a live stream, creators can invite another user to join their feed for real-time collaboration. These social networking elements are designed to encourage cross-platform creativity, enabling creators from different platforms to collaborate and expand their reach.

Happs also provides built-in monetization tools, allowing creators to earn revenue without initial requirements. This is particularly appealing to emerging or less established creators. However, it may be less attractive to popular creators heavily invested in platforms like Twitch, which often prohibit multistreaming for monetized accounts.

Monetization Methods

Happs offers several monetization options. Users can sponsor broadcasters through recurring monthly payments, or contribute one-time awards during livestreams or to video-on-demand content. The platform utilizes a virtual coin currency that users can purchase or earn through engagement. Currently, there are no plans to incorporate advertisements.

The company will retain a 30% commission on subscription earnings, but Goldman indicated that these fees will be waived for a limited time to incentivize platform adoption.

Future Plans and Expansion

“This funding round will be used to strengthen our product and technology teams,” Goldman stated, “and to enhance the platform’s stability and reliability.” The company intends to leverage these resources to increase awareness of Happs among content creators.