Flip, a social commerce app enabling shoppers to become creators, launches a $100 million creator fund to differentiate itself in a competitive market. This fund offers equity to creators, with grants ranging from $6,000 to $100,000 based on engagement. It aims to distribute up to $1 million daily for the first month. Eligible creators must meet specific follower and engagement criteria. Within 72 hours of launch, nearly 10,000 influencers applied. Flip's long-term goal is to go public, with no current plans for acquisition according to President Eddie Vivas.
"The new grant system sets Flip apart from competitors because it offers users equity in the company, potentially leading to substantial returns for creators if Flip is successful."
"Our goal is to take the company public one day. We don't currently see an acquisition as an interesting outcome for our company," said Flip President Eddie Vivas.
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