\n<\/p>\n
Affiliate marketing is nothing new, but a rising startup in the space, ShopMy, is angling to be the go-to platform for brands and creators, when it comes to influencer monetization.<\/p>\n
In January, ShopMy announced<\/a> it had raised $77.5 million for its Series B led by Bessemer Venture Partners and Bain Capital Ventures. The startup previously raised $18.5 million a year ago in March. ShopMy is scaling rapidly, attracting more brands and expanding into new categories and geographies.<\/p>\n ShopMy\u2019s latest funding round followed several other significant milestones. In 2024, ShopMy\u2019s revenue surged 650%, a company spokesperson told Modern Retail. It represents a meteoric rise for ShopMy, which according to the Information, brought<\/a> in just $4 million in revenue 2023. Applications from brands vying to partner with ShopMy also climbed 244% in 2024 from the year before. And the company reached profitability for the first time in September of last year.\u00a0<\/p>\n Founded in 2020, ShopMy was originally built as a platform for content creators to earn commissions through shoppable links. As such, ShopMy competes with influencer monetization platform LTK, which was founded in 2011 and has long dominated the space. (Their rivalry reached a fever pitch last year when LTK filed a lawsuit, which it later dropped, accusing ShopMy of false advertising, trademark infringement and unfair competition.)<\/p>\n But ShopMy has since branched out beyond shoppable link by selling tools to brands. <\/em>ShopMy realized brands needed more than links to track the success of influencer campaigns. This led to ShopMy\u2019s subscription-based brand tools, which now drive the majority of the company\u2019s revenue.\u00a0<\/p>\n For $1,000-$7,000 a month, a ShopMy subscription lets brands identify high-performing creators, track real-time sales data from creator campaigns and directly collaborate with influencers. Around 600 brands, including Lululemon, Nike and Net-a-Porter, are ShopMy subscribers. And the company only expects that number to rise after its latest funding round. ShopMy saw 63% growth of new brand subscriber applications after it announced its Series B funding.\u00a0\u00a0\u00a0<\/p>\n More than 100,000 creators earn revenue through ShopMy, driving more than $352 million in brand sales. Products from more than 50,000 retailers can be sold with ShopMy links.<\/p>\n Modern Retail spoke with Tiffany Lopinsky, ShopMy\u2019s co-founder and president, about the platform\u2019s growth, its role in facilitating partnerships between creators and brands, and its plans for the future.<\/p>\n This conversation has been edited and condensed for length and clarity.<\/em><\/p>\n What has been driving the recent surge of interest in platforms like ShopMy?<\/strong> Brands are now asking, \u201cHow do we find influencers who actually sell? How do we keep them engaged month over month?\u201d Our data-driven approach allows brands to identify creators who are already driving significant sales, and then invest in long-term relationships with them.<\/p>\n You recently raised $77.5 million. How will that funding be used?<\/strong> In terms of verticals, we\u2019ve been strong in apparel, accessories and beauty, but we\u2019re growing into categories like home, wellness, maternity, kids and travel. These are industries where influencers already play a major role in discovery and purchasing decisions.<\/p>\n Geographically, we\u2019re expanding to the U.K. and Australia. We\u2019ve figured out what it takes to scale internationally, so we\u2019re investing more in those markets.<\/p>\n And finally, we\u2019re improving our platform\u2019s features. One big focus is making influencer collaborations more programmatic. Right now, affiliate marketing can be unpredictable for brands because it\u2019s mostly passive\u2014creators post, and brands wait to see what happens. We\u2019re building tools that allow brands to proactively invest in top-performing influencers through bonuses and commissions, making the entire process smoother and more scalable.<\/p>\n How much do ShopMy\u2019s creators earn on the platform?<\/strong> ShopMy competes with LTK and other creator-affiliate platforms. What sets you apart?<\/strong> For creators, we offer a seamless way to monetize their recommendations without having to negotiate individual affiliate deals with multiple brands. Our platform handles commission payments, making it easy for creators to earn from multiple brands at once.<\/p>\n Some platforms like Meta, Flip and Substack have been doling out <\/strong>financial incentives<\/strong><\/a> to creators amid all the turmoil associated with the TikTok ban. Is that something ShopMy is exploring, as well?<\/strong> One of our main ways of acquiring creators is through brand partnerships. When a brand joins ShopMy, they often onboard their existing influencer network, exposing those creators to more opportunities. We also have a dedicated creator acquisition team that educates influencers on why affiliate marketing is a worthwhile investment.<\/p>\n With all the uncertainty around <\/strong>TikTok\u2019s future<\/strong><\/a>, how does that impact ShopMy?<\/strong> Looking ahead to 2025, what new features are in the pipeline for ShopMy?<\/strong> Affiliate marketing is nothing new, but a rising startup in the space, ShopMy, is angling to be the go-to platform for brands and creators, when it comes to influencer monetization. In January, ShopMy announced it had raised $77.5 million for its Series B led by Bessemer Venture Partners and Bain Capital Ventures. The startup previously […]<\/p>\n","protected":false},"author":1,"featured_media":113564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11761],"tags":[14677,13827,10767,50662,10883,50661,8121,970,11198,50663,11132,10974],"dealstore":[],"offerexpiration":[],"class_list":["post-113562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affiliate-marketing","tag-bigger","tag-briefing","tag-carving","tag-creatoraffiliate","tag-marketplace","tag-modern-retail","tag-pie","tag-platform","tag-share","tag-shopmy","tag-shopping","tag-social"],"yoast_head":"\n
Influencer marketing has been around for a while, but for a long time, it was seen as an experimental, top-of-funnel channel focused on awareness. However, as paid advertising costs have risen and other acquisition channels have become less effective, brands are re-evaluating influencers as a core marketing channel. The idea is to turn influencer marketing into a performance-driven, high-ROI acquisition strategy rather than just paying for exposure.<\/p>\n
We\u2019re focused on two key areas: vertical expansion and geographic expansion.<\/p>\n
We\u2019ve had creators make over a million dollars in commissions. The higher earners on our platform can make $100,000 per month, but it varies widely. Some creators treat ShopMy as a secondary income stream, making a few hundred to a few thousand dollars per month. Others make affiliate sales their primary revenue stream and don\u2019t even take paid sponsorships anymore because they prefer the flexibility of earning through commissions.<\/p>\n
Our focus has always been on creating a tool that\u2019s equally useful for brands and creators. We provide brands with full transparency on sales data, allowing them to make better decisions about which creators to work with. Our approach is about turning influencer marketing into a reliable acquisition channel, not just an awareness play.<\/p>\n
No, we haven\u2019t paid creators to join or use our platform. Our focus is on enabling creators to monetize their existing content and brand relationships. Instead of paying creators upfront, we encourage brands to invest in their influencer partnerships through commissions and bonuses.<\/p>\n
We feel for creators who rely on TikTok as a revenue stream, but our platform isn\u2019t dependent on any single social media site. We help creators monetize across Instagram, TikTok, Substack and other channels. Many of our top-performing creators already use multiple platforms, so while TikTok\u2019s uncertainty has driven more interest in ShopMy, it\u2019s not a major risk to our business model.<\/p>\n
Our biggest focus is scaling both sides of the platform. On the creator side, we\u2019re constantly adding more brands to make sure influencers have the best monetization opportunities. On the brand side, we\u2019re improving our tools to make it even easier to manage influencer programs at scale. We\u2019re enhancing our programmatic spending features so brands can invest in influencer partnerships more seamlessly.<\/p>\nWhat I\u2019m reading <\/h2>\n
\n
What we\u2019ve covered <\/strong><\/h2>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"