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Creator-led marketplace “LTK” raises about 34.5 billion yen, more than 130 influencers become millionaires | Today Nation News

TechnologyCreator-led marketplace "LTK" raises about 34.5 billion yen, more...

When LTK was launched in 2011, the terms “influencer marketing” and “creator economy” weren’t common yet, but fashion blogger Amber Venz Box said today‘s internet personality. I was faced with the same unpaid article writing, photography, video editing, and follower-making work that I faced.

Amber Vens Box launched LTK when he was looking for a way to get a commission if a reader bought a product he recommended. Ten years later, her company, which turned from this blogger, has grown to $ 2 billion. Previously. LTK, named RewardStyle and LIKEtoKNOW.it, will allow social media influencers to post their shoppable posts on the central marketplace, both on the web and in the app. Brands can also use this platform to connect with creator partners for future marketing campaigns. LTK has raised $ 300 million from the Softbank Vision Fund to reach this valuation.

LTK is aimed at creators, brands and shoppers who spend more than $ 3 billion annually on Instagram. The LTK interface is reminiscent of the Instagram Shop, where creators select and post their favorite products and scroll through them to share. LTK was ahead of Instagram’s transition to e-commerce. After many years of profitability, LTK plans to hire the entire organization to grow its Texas-based company internationally with this funding. Currently, LTK has 350 international staff, dealing with 5,000 retailers and over 1 million brands.

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Angela Du, investment director of SoftBank Investment Advisers, who will join LTK’s board of directors with this investment, said: “We believe LTK is helping people reshape the concept of entrepreneurship by allowing them to make a living from their hobbies and passions. LTK’s innovative marketing platform is these. It enables creators to build personal brands on the social universe and build long-term, genuine relationships with their followers. “

The success and growth of LTK reiterates the growing consumer interest in shopping with recommendations from people they follow. Wentz Box told Forbes that more than 130 influencers have become millionaires on their own through LTK. These female-centric creators can earn 10-25% of their sales. Brands and retailers participating in the platform set their own commission rates. Brands earn sales by promoting sales by creators, and creators earn commissions in addition to that. LTK earns transaction fees from these sales.

Image credit: LTK

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(Sentence: Amanda Silberling, Translation: Hiroshi Iwatani)

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