The TipTip platform
Indonesia-based one-stop platform for content creators TipTip today announced that it has raised US$10 million in a seed funding round led by East Ventures.
This funding round included the participation of Vertex Ventures, EMTEK, SMDV, and prominent family offices.
In a press statement, TipTip said that it will use the funding to accelerate its entry into the content creator economy in the Southeast Asian (SEA) region which also included talent and user acquisition.
The company is currently preparing its upcoming invitation exclusive launch in April 2022, followed by a public launch in Indonesia “shortly after.”
TipTip was founded by Albert Lucius who was known for being the co-founder of Kudo, the O2O e-commerce platform that was later acquired by tech giant Grab in 2017 and rebranded to GrabKios.
The company operates in Indonesia and Singapore and is run by a team of more than 70 employees.
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TipTip enables content creators to monetise through personalised video sessions, the sale of premium digital contents, and direct interaction opportunities with their followers. The platform also aims to serve as the solution to fill the massive features gap faced by content creators across emerging economies throughout Southeast Asia, such as lack of monetisation opportunities, limited local payments and KYC integrations, as well as challenges related to content creation and distribution over mobile devices.
In SEA, content platform continues to remain relevant with notable investments in the vertical included the undisclosed Series C funding round raised by Philippine-based Kumu in October 2021. This funding round puts its total raised funding to more than US$100 million.
Commenting on the investment, Willson Cuaca, Co-Founder and Managing Partner of East Ventures said, “We believe in the potential of the content creator economy in the region, especially in how it has been accelerated during the COVID-19 pandemic. It is obvious to us that some of the consumer behaviour that formed during the pandemic will stay beyond the pandemic, TipTip is well-positioned to capture that. This is a product for the post-pandemic world, that was designed during the pandemic.”
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Image Credit: TipTip
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