East Ventures Injects 143 Billion Rupiah Content Creator Platform "TipTip"

TipTip, a platform for content creators in Southeast Asia, announced that it has raised $10 million in seed funding (approximately IDR 143 billion). The figure is claimed to be one of the largest early-stage funding ever. This round was led by East Ventures, with participation from Vertex, EMTEK, SMDV, and several family offices leading.

TipTip was founded by Albert Lucius, former founder at Kudo which was successfully acquired by Grab in 2017. Currently, TipTip operates in Indonesia and Singapore, has a team of more than 70 employees.

Make it easy for creators to monetize

TipTip is here as the platform of choice for content creators to monetize their hobby through personalized video sessions, premium digital content sales, and the opportunity to interact directly with followers (Followers) they. TipTip is here to fill the gaps in some of the key features that content creators in developing Southeast Asia face, such as the lack of monetization opportunities, limited local payments and KYC integration, as well as challenges related to content creation and distribution via smartphones.

“We greatly appreciate the support and trust we received in this funding round prior to TipTip's public launch. Their belief further strengthens our vision of the potential of the creator economy, and how the solution offered by TipTip can be a one-stop solution for all content creators in the Southeast Asia region," said the TipTip Founder. Albert Lucius in an official statement, Tuesday (29/3).

According to Albert, the company will use the fresh funds to accelerate TipTip's growth in reaching and empowering the creator economy in the region. Also, expand the team and accelerate platform adoption. The TipTip application itself has not been publicly inaugurated, an exclusive launch (invitation only) is planned to be held in April. This was followed by a public launch for the Indonesian market the following month.

Co-founder & Managing Partner of East Ventures Willson Cuaca said, “We believe in the potential of the creator economy in the region, especially after seeing the rapid growth of the potential market during the COVID-19 pandemic. It is clear to us that some of the consumer behaviors that were shaped during the pandemic will continue after the pandemic. TipTip is well positioned to capture that. TipTip is a product for a post-pandemic world designed during a pandemic.”

Meet brand and an influencer

Currently, there is a large demand for activities digital marketing especially those that utilize influencers grow significantly in number. Based on data collected by Influencer Marketing Hub, the pandemic has accelerated growth influence marketing in 2020, and this number is expected to continue in 2021.

From just $1,7 billion in 2016, influence marketing is expected to have grown to a market size of $9,7 billion by 2020 and is expected to soar further to $13,8 billion in 2021.

In Indonesia, there are already several platforms that provide a place for content creators, influencersand brand to take advantage of marketing activities with the concept. Starting from platforms such as Partipost, AnyMind Group, Hiip, Indonesia Creator's Economy made by IDN Media, to Lynk.id which aims to provide integrated tools for creators.

Technology company Gojek also announced cooperation with the platform influencer marketing Allstars to make it easier for MSME partners Gojek Connect with influencers doing marketing activities. Allstars is here to provide a platform to connect brand with an influencer for promotion on social media. Not only profitable brands, influencers also actually need to be bridged, especially for those who have just switched professions.