TipTip received $10 M in early investment ahead of its launch
TipTip, an Indonesian one-stop shop for content creators, revealed today that it has secured $10 million in a seed round headed by East Ventures.
Vertex Ventures, EMTEK, SMDV, and famous family offices all participated in this round of investing.
TipTip announced in a news release that it will utilise the funds to expedite its entry into the Southeast Asian (SEA) content producer ecosystem, which will involve talent and user acquisition.
The firm is now planning for an invitation-only debut in April 2022, followed by a “shortly after” public launch in Indonesia.
Albert Lucius, the co-founder of Kudo, the O2O e-commerce platform that was eventually bought by digital giant Grab in 2017 and renamed to GrabKios, launched TipTip.
More than 70 people work for the firm, which is based in Indonesia and Singapore.
TipTip allows content producers to monetize their work by offering tailored video sessions, premium digital content sales, and direct engagement with their audience. The platform also intends to bridge a huge feature gap experienced by content producers in Southeast Asia’s rising economies, such as a lack of monetisation options, limited local payments and KYC integrations, and issues linked to content production and distribution via mobile devices.
In Southeast Asia, content platforms are still significant, with major investments in the sector including Kumu’s secret Series C fundraising round in October 2021. With this round of investment, the company has raised more than $100 million in total.
Commenting on the investment, Willson Cuaca, Co-Founder and Managing Partner of East Ventures said, “We believe in the potential of the content creator economy in the region, especially in how it has been accelerated during the COVID-19 pandemic. It is obvious to us that some of the consumer behaviour that formed during the pandemic will stay beyond the pandemic, TipTip is well-positioned to capture that. This is a product for the post-pandemic world, that was designed during the pandemic.”