Amid the heated debate on how Big Tech is pocketing most of the earnings by creators on their platforms, homegrown creator-tech startup called HYPD is helping creators turn ‘creator-preneurs’ and launch their own business in under 30 seconds.
A digital home for creators, HYPD is Asia’s first creator-owned marketplace that enables content creators to launch their own multi-brand stores/businesses.
According to Ashwarya Garg and Akshay Bhatnagar, Co-founders of HYPD, for Big Tech platforms, creator monetisation is a “pseudo priority”.
“Their 99 per cent focus is how to make more money from ads and in this process, they take away any revenue share that a creator should have owned in the first place,” Garg told IANS.
Creators have the domain knowledge, they have the distribution and all they need is a destination of their own and a no-code tech platform to start monetising.
“HYPD does exactly that. It provides a business-in-a-box solution, for any creator to start earning their first dollar on the internet,” Bhatnagar added.
Creators can sell products from multiple brands and, in future, can launch their own courses, take appointments, sell tickets and everything else they feel is monetisable.
“The best part, all profits are directly owned and kept by creators. No dependence on countless apps, No platform fee, no middle-men cuts, no gas fee on payment processing, and no hassle of operations and technology. Launch your business where your fans exist!” the co-founders explained.
New Delhi-based HYPD recently raised $1.5 million in seed round and the capital will be utilised to activate one million content-creators.
In the past three months, creators have powered GMV of over 50 lakh from their respective stores, directly earning a sizable amount of profit, currently pegged at Rs 12 lakh.
India had over 700 million internet users in 2020, which is expected to cross the billion mark by 2024.
While a large percentage of these users are “consumers of content”, a good percentage of these users are “creators of content”.
“With Covid-led change, the urge to consume and create content has accelerated its demand by a decade, and now this is a full-blown industry that needs its tools, processes, accelerators, and community to help them make a strong sustainable living out of this,” Garg told IANS.
A fintech creator on the platform could create and sell courses on finances and lifestyle creator could make sure his/her fans get to buy what he/she recommends, through a marketplace owned and run by him/her, and get to keep the high affiliate earnings.
HYPD helps creators to build that under 30-seconds, making them earn up to 20 per cent of every sale.
“Possibilities are endless. HYPD is a creator-tech tool, to help you achieve all of those possibilities,” said Bhatnagar.
The platform has a creators/influencers network such as Bhuvan Bam, Tanmay Bhatt Bhuvan Bam, Ranveer Allahbadia and more. The first cohort of VCs has top-notch names in the industry like Better capital, Sauce VC, Joyance Partners and Lets Venture, and several angel investors.
HYPD said it has already empowered more than 500 creators to launch their stores via its platform.
(Nishant Arora can be reached at firstname.lastname@example.org)