The Future. Social shopping platform Flip has raised new capital to expand its ambitious goal of taking on Amazon and TikTok Shop. Considering it functions solely as a creator-driven sales platform for brand names like DeLoghi and OtterBox, Flip may become the hub for a new generation of QVC-style influencers.
TrendshoppersFlip is hoping that brand curation helps boost social shopping sales.
The online marketplace company has raised $144 million in a round led by Streamlined Ventures, which shot Flip’s valuation up to $1.05 billion.
This includes a $50 million investment from AppLovin Corp, which will allow Flip to use its AI tools for its ad business instead of having to build one from scratch.
Flip’s marketplace exists somewhere on the spectrum between Amazon and TikTok Shop, offering only brand-name products and featuring videos from shoppers who have actually purchased them.
Reviewers earn money from video views and affiliated product sales, while Flip gets a commission on sales and also charges brands a fee for the app’s algorithm to make the products more discoverable.
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