Instagram creators can now use Pearpop, a marketplace for social collaborations, after expanding on the social media site. Pearpop was previously only available to TikTok users.
Instagram Teams Up with Pearpop
The platform, which launched in 2020, allows creators and brands to buy collaborations with celebrities and larger creators. Pearpop will also become available on Twitter this November and on Twitch in December, according to PRWeb.
Last month, the marketplace did a soft launch on Instagram. Pearpop stated that in less than a month, more than 10,000 Instagram creators had joined the marketplace.
The company said that users had requested the feature to be available on Instagram. More than 90% of the creators are already active on Instagram.
The early users of the marketplace on Instagram include Jake Paul, Swae Lee, Paris Hilton, Post Malone, Tom Felton, and Noah Schnapp.
Cole Mason, Pearpop CEO, and co-founder said that the initial concept of the platform came out of an obvious gap within the space because no marketplace existed for creators to monetize through collaborations that are beneficial to both parties.
Mason told TechCrunch in an interview that he built Pearpop as the social capital marketplace that helps creators earn, promote and expand their services across all social media platforms.
Mason added that the company's vision is to move the industry away from platform-driven awareness marketing and push more for people-driven ones.
The idea brought in athletes, musicians, actors, and entertainers, including The Weeknd, Amy Schumer, Diddy, The Chainsmokers, Gary Vaynerchuk, Josh Richards, Griffin Johnson, Marshmello, Mark Cuban, Moe Shalizi, and Snoop Dogg.
Instagram has been working on helping its creators. In October, the social media platform launched a tool to help creators get monetized.
Instagram also allowed creators to monetize their content through IGTV.
Pearpop Funding
In April, Pearpop announced that it has a funding of $16 million for expansion. The funding was divided between a $6 million seed funding round co-led by Slow Ventures and Sound Ventures, owned by Ashton Kutcher and Guy Oseary.
An additional investment of $10 was led by Alexis Ohanian's Seven Seven Six. Bessemer also participated, according to KPVI.
Since the platform's last funding announcement, the company has added other investors, including Lil Nas X, Noah Schnapp, Swae Lee, Dre London, Gabrielle Union, King Bach, YG, Jake Paul, Paris Hilton, and James Corden.
Pearpop has been compared to Cameo since it was launched. Cameo is a popular app that allows users to pay celebrities to create videos with shout-outs and dedications.
Mason said that Pearpop and Cameo couldn't be compared. Cameo offers personalized video messages that are used for gifting, and this is not what Pearpop does.
Mason said that Pearpop is a social media tool that can help both brands and creators reach their goals.
The CEO also stated that Pearpop would continue to expand to other platforms and focus on refining its current features, like "Challenges," which allows artists to offer rewards to their creators when they reach a certain number of followers while promoting their work. He also said that the real goal for Pearpop is to see everyone as a social media creator.
Pearpop is not only for those with thousands of followers, but it is also for those who are starting their journey and are looking for a way to monetize it.
Related Article: Instagram Rolls Out Collabs, a Feature that Lets Two Users Share a Post
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Written by Sophie Webster
