Mighty - Kids' E-commerce Platform

Introducing Mighty: Empowering Young Entrepreneurs

For children of a certain age, opportunities for enrichment typically extend to school activities, athletic pursuits, and summer camps. However, avenues for earning income are generally limited or unavailable.

A Los Angeles-based startup, Mighty, established a year ago, is attempting to address this gap. Functioning as a Shopify-like platform tailored for younger individuals, it allows them to establish online stores.

The Genesis of Mighty

Mighty, spearheaded by Ben Goldhirsh, founder of GOOD magazine, and Dana Mauriello, formerly with Etsy and Sidewalk Labs, positions itself at the intersection of fintech, ed tech, and entertainment.

The concept originated from the founders’ personal experiences. Goldhirsh, while residing in Costa Rica, became concerned about his daughters’ education at a small school. He began supplementing their learning with resources like Khan Academy.

However, his daughters expressed resistance, stating their dislike for additional schooling after a full day of classes.

Seeking an alternative, Goldhirsh encouraged them to sell the bracelets they were crafting. This initiative aimed to impart valuable math skills, alongside lessons in startup capital, business planning, and marketing. He reports the endeavor proved successful.

As he shared this “project-based learning” experience, others inquired about assistance in launching similar ventures for their children.

Growth and Current Status

Currently in beta, Mighty has attracted over 3,000 “CEOs,” as the platform refers to its young users, according to Goldhirsh and Mauriello.

This surge in interest aligns with the increasing amount of time children spend online and the diminishing availability of traditional part-time jobs for younger individuals. The Department of Labor’s Fair Labor Standards Act sets the minimum employment age at 14, and even then, employers may hesitate due to potential challenges.

Securing Investment

Mighty recently secured $6.5 million in seed funding, led by Animo Ventures, with participation from Maveron, Humbition, Sesame Workshop, Collaborative Fund, and NaHCO3.

Challenges and Future Development

Operating a platform for children presents unique hurdles. Maintaining sustained engagement in a business venture can be difficult for younger entrepreneurs. While likened to a “21st century lemonade stand,” long-term viability requires more than a temporary setup.

Goldhirsh acknowledges the importance of avoiding language like “grind” and recognizes that some users participate simply to earn short-term income. However, he emphasizes that many demonstrate genuine entrepreneurial drive and remain actively involved.

A current limitation is the inability to sell homemade items directly. Users currently sell customizable products like hats, totes, and stickers through a partnership with Printful, receiving a percentage of each sale.

Expanding Product Offerings

Mighty also facilitates the sale of items from global artisans through a collaboration with Novica, an impact marketplace associated with National Geographic.

While the initial approach prioritized minimizing friction, Goldhirsh admits customer demand for greater flexibility. Mighty intends to eventually allow the sale of self-made goods and even services, such as lawn care, which are currently unsupported.

Revenue Model and Future Plans

Beyond transaction-based revenue, Mighty plans to introduce subscription services, details of which are not yet public.

The startup may face competition from established e-commerce platforms like Shopify. Concerns from parents regarding the potential pressures of entrepreneurship at a young age are also possible.

Community and Learning

Mauriello reports positive feedback thus far, highlighting the active engagement within Mighty’s online community, where young CEOs share encouragement and sales strategies.

She emphasizes the valuable lessons learned through creating a store on Mighty, including storytelling, sales techniques, and the ability to overcome setbacks. The platform fosters resilience by teaching children that “you can fail and pick yourself back up and try again.”

Goldhirsch adds, “Some kids realize it’s more challenging than anticipated and that success isn’t automatic. But they appreciate earning their achievements, as we aren’t doing it for them.”