Flip is a social trade app that allows buyers to become creative. They can share sincere comments and make money based on platform engagement. While Flip competes with Tiktok Shop and other platforms in a very competitive market, he has introduced a new creator fund that offers a unique opportunity to help him be distinguished.
The creators’ fund came out quietly earlier this week and provides up to $ 100 million capital for participating creators over the next five or more years. Grants range from $ 6,000 to $ 100,000, depending on the level of creator’s commitment. In particular, FLIP aims to distribute up to $ 1 million a day for the first 30 days of the program.
The new grant system separates FLIP-competitors because it offers equality users in the company. Capital funds usually have the potential for significant long -term returns, so creators who remain with the program can see important benefits, depending on the success of FLIP in the near future. (However, it is important to note that these returns are not guaranteed and vary based on market conditions.)
To qualify, a Flip creator must have over 4,000 followers and at least 10 videos posted in the last 30 days, each collecting about 3000 views. Flip also accepts creators with at least 20,000 followers on other platforms such as Instagram, Tiktok and YouTube. Flip reviews applications and gives grants within 48 to 72 hours, the company notes.
Payments will be made in five years or earlier in case of sale of the company. In each case, payments will be made with cash. Regarding a possible purchase, however, Flip President Eddie Vivas shared with Techcrunch, “We currently do not see a purchase as an interesting result for our company. Our goal is to make the public company one day. ”
According to Vivas, within 72 hours of the start of the program, they applied about 10,000 influencers. He said approximately 22% of applications came from large influencers. Users can currently view a direct steering chart of all grants on the Creator Fund page. Since this writing, the highest grant given is $ 67,000 for Tyler K (@cheftyler).
While the future of Tiktok in the US remains unclear, FLIP is likely to account for the new creator fund to encourage more users to actively participate in the platform.
Among the current Tiktok drama, FLIP has seen significant growth, collecting 580,000 new downloads in January, according to estimates by the APFIGRAs app intelligence provider. On Monday, FLIP arrived in 10th place on the main general lists on Apple’s App Store in the US.
Moreover, FLIP is currently earning about 250,000 new users daily, with people spending on average 35 minutes in the application daily, according to the company.
To maintain the withdrawal and stay competitive, Vivas said Flip plans to introduce additional social features in the coming months. These include surveys, group conversations and “elegant ways to repost,” he said.
“We are focused on becoming a more complete and dynamic social trade platform built on the basis we have today, which is now functioning clearly,” Vivas said.
Flip, which was launched in 2021, has raised $ 236 million to date. The company is estimated at $ 1.1 billion.
