By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Bounty raises $4.7M to help everyday TikTokers make money from reviews – TechCrunch
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > General > Bounty raises $4.7M to help everyday TikTokers make money from reviews – TechCrunch
General

Bounty raises $4.7M to help everyday TikTokers make money from reviews – TechCrunch

admin Published August 3, 2022
Last updated: 2022/08/03 at 1:37 AM
Share
SHARE

[ad_1]

Bounty, an online service that helps TikTok creators monetize brand reviews and recommendations, announced today it closed on a $4.7 million seed round led by early-stage consumer tech VC firm M13.

The new service, currently in beta, is designed for everyday TikTok users — not just professional creators — who want to earn money by reviewing brands’ products.

To sign up, customers enter their phone number on the Bounty website and are sent a list of instructions. Bounty users must first buy an eligible product from one of the partnered brands. After the order is processed and delivered, the customer will receive a special link via text to accept the “Bounty” so they can get paid when they post their video review to TikTok. The creator uploads content with the brand tagged and #bounty in the caption. Bounty will then detect the post and lets the customer know it’s being tracked. The videos also have to be appropriately tagged as “sponsored” per FTC guidelines. Bounty notes.

Reviewers are able to earn up to $10 per every 1,000 views their TikTok content receives and get to keep 100% of their earnings. They are paid for organic views generated in the first 48 hours. The price per view gradually goes down as views go up to ensure a fair return for the creator and the brand, the company explains. So the better the video performs within the first two days, the more the creator gets paid.

Anyone 18 years of age or older with a TikTok account can use Bounty.

The funding will be used to onboard brands from the company’s waitlist of 750+ brands. At present, Bounty works with 30 brands, including Jones Road Beauty, BlendJet, Olipop, and Doe Lashes.

During beta tests, Bounty worked with around 14,000 creators. The company reports its top creators made around $3,000 per month but didn’t share specifics as to how many videos they posted or what an average user would earn.

However, Addie Neri, a TikTok user (@addingtoneri) with a modest following of 19.4K, told Fast Company that she was able to make upward of $560 with one Bounty video. As of May 2022, she’s earned over $3,000 in total from posting about Jones Road Beauty products with the help of Bounty.

Aside from earning money from views, the creator also gets paid when the brand re-uses their video in other ways. Brands can view the content created through Bounty’s website and can then license it to run as a TikTok Spark Ad — an ad format that lets advertisers place ad spend on user-generated content to boost it to more viewers. They can also use the video in their other paid marketing efforts.

This is possible because creators are granting Bounty a license to their content as a part of their agreement, allowing Bounty to sublicense the content to the brand on their behalf. The creator retains a license to the content, as well.

Brands pay Bounty a monthly fee, which varies based on platform usage, but starts at $99 a month.

Investors Sugar Capital, Interlace Ventures, as well as founders and executives from Rothy’s, Fabletics, and Stack Commerce, among others, participated in the new round, bringing the total amount raised to $6.7 million. The funding will also help fuel hiring plans for Bounty’s engineering, design, and marketing departments. Early hires are from Google, Sezzle, and Dharma.

The Miami-based company was founded in 2021 by Abe Wolke. He hopes that the product will democratize the influencer economy by “giving paying customers the ability to be rewarded if their content is used by the brand and helps the brand grow,” he says.

The old way of doing this was to pay an agency to send influencers free products in hopes of a post. However, this is less effective because it feels like an ad. When a real customer posts content, it comes across as more genuine. Of course, customers who are being paid for their positive reviews of a product aren’t necessarily being more truthful than a creator who got the item for free. And the company tells creators negative reviews don’t qualify for payouts.

“Celebrities and big-name creators aren’t our focus,” explains Wolke. “We’re focused on unlocking the long tail of creator marketing, serving the micro and nano creators — everyday customers and creators who don’t have an agent or a large audience and otherwise may not get noticed by their favorite brands. That said, anyone who’s a real customer can participate.”

The startup is tapping into brands’ growing interest in working with smaller creators. As Insider Intelligence recently reported, “nano” influencer spending (influencers with 1,000-5,000 followers) will rise 220.5% in 2022, while “mega” influencer spending (creators with 1M+ followers) will grow only 8.0%. In a separate report, the firm noted TikTok ad revenue is expected to triple to $12 billion this year.

Bounty launched into beta this March, and claims “growth has been exponential,” according to head of engineering Aaron Decker informed. “A couple of weeks ago, we only had 800 signups a week. Before that, it was only 500 a week,” he said.

Now, 1,000 creators sign up per week, the company says.

The startup is poised to publicly launch its service to a wider audience in the weeks ahead. For the time being, Bounty will only work with TikTok users, but it plans to expand to Instagram Reels in the next 12 months. YouTube Shorts and other video platforms will be considered further down the road.

[ad_2]

You Might Also Like

Revyze is building the TikTok of educational videos

YouTube ends the test asking users to get a premium subscription to watch 4K videos

Who is going to buy Cadillac’s $300,000 hand-built EV?

Don’t let today’s software rally improve your mood

Daily Crunch: Kanye West reaches agreement to acquire social media platform Parler

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin August 3, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Ethereum Active Addresses Reach ATH, Here’s What Happened Last Time
Next Article How Summer Is Turning Into A Short-Lived Altcoin Season

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

Revyze is building the TikTok of educational videos

6 Min Read

YouTube ends the test asking users to get a premium subscription to watch 4K videos

2 Min Read

Who is going to buy Cadillac’s $300,000 hand-built EV?

4 Min Read

Don’t let today’s software rally improve your mood

1 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?