Flip, a Palo Alto, CA-based provider of a shopping social network, raised $144M in Series C funding, bringing the company’s pre-money valuation to $1.05 billion.
The round was led by Streamlined Ventures with participation from previous investors Mubadala Capital and WestCap, and AppLovin Corporation (NASDAQ: APP) (which made a $50M investment).
AppLovin investment is part of an agreement which will see Flip soon to relaunch its marketing platform utilizing AppLovin’s AXON technology. Flip brands will leverage the AI advertising engine via AXON Connect, and will be able to reach more customers in measurable ways, with higher returns on the Flip platform. In addition, the partnership will enable Flip to extend its audience network to AppLovin’s 1.4 billion daily active users (DAUs) on behalf of all the brands on Flip.
Led by CEO Noor Agha, Flip is building a shopping social network for people to shop through other people. With a community of shoppers sharing video reviews of products they’ve purchased on the platform, buyers can discover products through 60 second videos of user-generated content that is instantly shoppable with a one-click checkout and same day shipping. Every shopper can then become a creator by sharing their own reviews and monetizing their content.
FinSMEs
08/04/2024