Name: A Reckoning Arrives for Creator Economy Startups
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A Reckoning Arrives for Creator Economy Startups

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Two years ago, Dmitry Shapiro and Sean Thielen were so optimistic about the booming creator economy that they pivoted their startup to a new product: a simple tool called Koji that lets influencers more easily link to their online tip jars, merch and other services in their social media bios. Sure, there were already dozens of other startups offering a similar type of product, but that didn’t stop the two men from raising $20 million for their company, GoMeta.Now Shapiro and Thielen want out of the creator economy.The link-in-bio business—Koji took a cut of transactions that occur through its product—never amounted to the big market the co-founders once thought it could be. That was in part because the target customers for Koji—the masses of creators with smaller followings than superstars like MrBeast and Emma Chamberlain—just aren’t making enough money for the startup and others like it to thrive, especially amid a downturn in advertising. Shapiro and Thielen have begun actively looking for a suitor to acquire Koji so they can focus on a new AI product they’re developing called YouAI.- or -Already a subscriber?Log in hereGet access to exclusive coverageRead deeply reported stories from the largest newsroom in tech.Latest Articles&nbsp;Inside the CEO Switch at TwitchHi, welcome to your Weekend.On Wednesday night, while editing Annie’s thoroughly delightful cover story&nbsp;on new Twitch CEO Dan Clancy, I hopped over to Clancy’s Twitch page, just to see if he was livestreaming. To my surprise and delight, he was.Almost two hours into a four-and-a-half hour jam session and open-mic night, the CEO sat facing the camera, playing the keyboard and howling the...Latest Briefs&nbsp;SVB’s Investment Bank Has Deal to be Sold to Its CEO, Jeff LeerinkCrypto Payments Firm Wyre is Shutting DownBinance Under Investigation in FranceStay in the knowReceive a summary of the day's top tech news—distilled into one email.Access on the goView stories on our mobile app and tune into our weekly podcast.Join live video Q&amp;A’sDeep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.Enjoy a clutter-free experienceRead without any banner ads.Recent Popular StoriesA Reckoning Arrives for Creator Economy StartupsTwo years ago, Dmitry Shapiro and Sean Thielen were so optimistic about the booming creator economy that they pivoted their startup to a new product: a simple tool called Koji that lets influencers more easily link to their online tip jars, merch and other services in their social media bios.Why Shopify Ditched Its Amazon-Like Delivery DreamsWhen Shopify last month announced the sale of its delivery operation, it was an abrupt reversal of a strategy to compete with Amazon it had spent four years and billions of dollars developing.AWS Cuts Ties With Fast-Rising Cloud-Sales PartnerAmazon Web Services has suddenly cut ties with a key firm that earns commissions for bringing new customers to AWS, according to people with direct knowledge of the situation.The End of MegafundsMegafunds may be a relic of another era in venture capital. That’s not a bad thing. Insight Partners has reduced the target of its next fund 25% to $15 billion, the Financial Times first reported this week.Founders of Collapsed Job-Training Startup Misled VCs, Investor AllegesIn the span of a few months, Bitwise Industries, a job training startup that raised more than $100 million from investors including JP Morgan Chase, Goldman Sachs and Kapor Capital, has gone from an unlikely success story with hundreds of employees to a firm near bankruptcy targeted by multiple lawsuits, including allegations that its founders committed fraud.U.S. Investors Are Bailing Out of China FundsSequoia Capital’s decision this week to split off its China operations showed the impact of growing tensions between Washington and Beijing.

Two years ago, Dmitry Shapiro and Sean Thielen were so optimistic about the booming creator economy that they pivoted their startup to a new product: a simple tool called Koji that lets influencers more easily link to their online tip jars, merch and other services in their social media bios. Sure, there were already dozens of other startups offering a similar type of product, but that didn’t stop the two men from raising $20 million for their company, GoMeta.Now Shapiro and Thielen want out of the creator economy.The link-in-bio business—Koji took a cut of transactions that occur through...

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I write a newsletter about the creator economy @TheInformation, Vermonter, GW alum, daughter of an immigrant 🇵🇱Kaya like Kayak kaya@theinformation.com

A Reckoning Arrives for Creator Economy Startups

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