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Vybes
Vybes aims to be a one-stop enabler for influencers, where they can share their socials and promote their products all from one platform.
$X,000,000
Y% undefined $X,000,000
Z
17 days ago
Overview

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Problem

Vybes aims to be a one-stop enabler for influencers, where they can share their socials and promote their products all from one platform.

With social media on the rise, influencers and content creators are poised to take control of the fast-changing creator economy.

However, the race to become the leading enabler has just begun, with existing players only managing to penetrate less than 20% of the market. Many non-Western regions are heavily underserved.

Solution

Vybes' solution is to be a one-stop enabler for creators and shops. Vybes' vision is to combine Shopify with Linktree and create a "super app". Vybes combines all of the links and features that content creators need in just one link. Each creator's unique link leads to a customisable microsite where creators can design different content blocks.

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Product

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Channel + Content Aggregation

Similar to Linktree, creators can customise their accounts and add links to their socials, collaborations, artwork, music playlists and more.

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Shop (Physical and Digital)

Vybes' Shopify element allows creators to promote items and digital assets like NFTs for their followers to purchase.

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Affiliates

Creators can sign up as affiliates and promote their respective affiliate brands, similar to how they encourage their socials or products. They receive a fee every time a user clicks on the affiliate link.

Donations

Users can show support by donating to these creators.

Value Proposition

Vybes provides a centralised platform for all the creators' links, making it easy for their followers to explore and support them.

The Shopify and affiliate product is also an effortless way for creators to generate revenue without incurring overhead costs, which is a product differentiator from Linktree, which does not have an integrated shop.

Traction

Users and Brands

  • 60,000+ creators onboarded
  • 100+ brands onboarded
  • Available in 80% of Indonesian cities

GMV and Revenue

  • $6m annualised GMV run rate for 2022
  • $130k revenue run rate for 2022
  • Recently pivoted from stock keeping model to a dropshipping model, which has lowered their overhead and resulted in a higher contribution margin.

Revenue Model

Shops: Creators promote products on their microsite. Vybes receives a 5-10% commission off every transaction.

Affiliate Campaigns: Creators promote affiliate brand links on their microsite and receive a fee for every click. Vybes gets a 10% commission of every fee.

Competition

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Vybes differentiates itself from Linktree, its closest competitor, by integrating shops and ways for creators to monetise on the platform.

Go-to-Market Strategy

Vybes aims to capture 20% of its target market segments of lifestyle artists, entertainers and visual artists in Indonesia.

There are about 100m IG and TikTok users in Indonesia, of which about 20% are interested in using the "Link-in-bio" feature. Of this, About two-thirds of them are individuals with over 1,000 followers. Vybes' 20% target will result in about 1.7m users.

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Shift in Strategy

Vybes is pivoting to focus on growing its user base by first improving the "link-in-bio" feature as supposed to encourage current users to use the shop and affiliate features, spurred by Linktree's rapid growth.

Referrals

Vybes believes that with the virality of their platform, they can focus on the lowest CAC form of marketing, as creators tend to hang out and share new and exciting finds, with many relying on word of mouth in deciding what tools to use.

Partnerships

Vybes has been working with Pinterest since late 2021 and is in active discussions with other social media platforms to grow partnerships, including Bytedance, Youtube and Shoppee.

Fundraising

Raising a USD$1m SAFE note

  • $300k hard committed, BANSEA soft commitment of $100k-$200k
  • 20% discount, $30m valuation cap
  • FundedHere's allocation of $200k

Use of Funds

Marketing, hiring of key personnel and extending the runway to Series A

Milestones

  • Growth: Vybes plans to hit 330,000 by the end of 2022 and 1 mil users by mid-2023, acquiring a 10% market share of Indonesia
  • Fundraising: Plan to raise Series A at the end of 2022

Team

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