Snipfeed Raises $5.5M Seed Round - Link-in-Bio Monetization

The Expanding Link-in-Bio Market and Snipfeed's Entry

The competition within the link-in-bio sector is intensifying, with numerous mobile website builders vying for prominence on creators’ TikTok, Instagram, and Twitter profiles. While Linktree currently dominates the landscape, having recently secured $45 million in Series B funding to enhance its e-commerce capabilities, Beacons presents a strong challenge with its creator monetization tools, achieved with a $6 million seed round.

Now, Snipfeed is joining the fray, announcing a $5.5 million seed round backed by investors including CRV, Abstract Ventures, Crossbeam, id8, Michael Ovitz, Michael Bosstick, and Diaspora Ventures.

Challenging the Leader: Snipfeed's Monetization Focus

Linktree has been operational since 2016 and possesses a larger funding base than its newer rivals. However, for creators prioritizing monetization, platforms like Snipfeed and Beacons may prove more appealing. This is due to their integrated tools specifically designed to facilitate income generation.

Currently, Linktree supports tipping functionality, but Snipfeed provides a more comprehensive suite of monetization options. CEO and co-founder Rédouane Ramdani reports that some creators are already earning over $20,000 monthly through the platform.

From Content Discovery to Monetization Platform

Snipfeed initially launched as a content discovery platform, attracting 44,000 weekly active users. However, the addition of a creator monetization tool quickly became its most popular feature.

In February 2020, facing limited funding, the company underwent a complete pivot to focus solely on its link-in-bio business. Since then, Snipfeed has registered 50,000 users, experiencing a 500% growth in its user base over the past six months. For context, Linktree had 12 million users at the time of its March Series B raise and now reports exceeding 16 million users.

Targeting the "Long Tail" of Creators

With a team of 15 based in Paris and Los Angeles, Snipfeed is particularly focused on the “long tail” of creators – a demographic encompassing over 46 million individuals.

“The term content creator isn’t limited to rising stars like Addison Rae,” explains Ramdani. “It includes professionals like doctors and lawyers who leverage platforms like TikTok to share their expertise, such as explaining tax filing procedures. These individuals seek ways to convert their knowledge into a supplemental income stream.”

Snipfeed's Unique Monetization Features

Beyond standard tipping, Snipfeed enables users to sell digital products, including on-demand video content, e-books, access to live streams, and personalized one-on-one consultations.

A key differentiator for Snipfeed is its system for selling personalized content, similar to Cameo. For instance, TikToker maylikethemonthh utilizes Snipfeed to offer asynchronous, video-recorded tarot readings. A single, personalized astrology question costs $5, while more detailed readings range from $20 to $40.

Snipfeed's Commission Structure and Referral Program

Snipfeed is free to set up, but charges a 15% commission on all sales, inclusive of transaction fees. Creators can also earn an additional 5% commission on sales generated by users they refer to the platform, deducted from Snipfeed’s standard commission.

“Our business model is built on a collaborative relationship with creators, prioritizing their financial success. We only profit when they do,” Ramdani states.

Comparing Commission Rates

Selling personalized videos on Cameo incurs a 25% platform fee. Beacons, in contrast, takes 9% of sales from its free version and 5% from its $10 per month subscription, which provides enhanced customization, integrations, and analytics.

Feature Sets and Creator Needs

Ultimately, the most important factor for creators may be the specific features offered by each platform, rather than the commission rate. Beacons allows users to integrate a shopping-enabled TikTok feed, potentially generating significant revenue for creators who frequently recommend products with affiliate links.

Ramdani notes that astrologers have found particular success on Snipfeed, as they can offer a variety of asynchronous services at varying price points. However, these features could benefit any creator capable of monetizing responses to follower inquiries – a chef could provide recipe suggestions based on available ingredients, or a life coach could create personalized video advice.

Future Development and Expansion

With its $5.5 million in seed funding, Snipfeed intends to expand its e-commerce tools to allow creators to sell physical products directly through their link-in-bio pages. (Both Beacons and Linktree are also pursuing this functionality with their recent funding.)

The company also plans to develop educational resources to guide users on maximizing their monetization potential. By empowering creators to generate income, Snipfeed aims to drive its own financial growth.