This investment will supercharge talent and product development across LTK’s creator, brand and consumer shopping experiences, pioneering its growth as the largest global influencer marketing platform.
Amber Venz Box, Co-Founder, and President of LTK says: “Ten years ago, we began with a mission to make creators, like myself, as economically successful as possible. This investment further validates the current and future opportunities for creators around the world when they put their skills to use on the LTK platform.”
In just the past year, consumers purchased more than $3 billion in fashion, beauty, fitness, home, and lifestyle products from LTK creators, including sales generated through LTK Creator Shops™, the LTK shopping platform, blogs, and social media. The LTK team educated Influencer Marketing Show London attendees on their growth and expertise last month as premier event sponsors.
Why did SoftBank invest?
“We believe there is a paradigm shift in the way consumers shop, which has highlighted the tremendous role creators play in guiding the online retail experience,” said Lydia Jett, Managing Partner at SoftBank Investment Advisers.
“LTK has built a seamless shopping platform that now reaches millions of monthly shoppers in more than 100 countries. We are thrilled to be partnering with Amber Venz Box, Baxter Box, and the team to support LTK’s long-standing advocacy of global creators as they continue to scale.”
The investment by SoftBank Vision Fund 2 will allow LTK to propel its growth initiatives. The company has plans to make a multitude of new hires across the entire organisation which will aid in the dramatic acceleration of its three-sided technology platform with new products for creators, brands, and shoppers and to scale its international presence.
“SoftBank Vision Fund 2 shares our vision and amplifies our ambition, and I am proud to welcome them to LTK as we build the future of the creator economy,” said Baxter Box, Co-Founder, and CEO of LTK.
Upon the closing of the transaction, Angela Du, Investment Director at SoftBank Investment Advisers, will join the company’s board of directors, which includes the founders, as well as directors from Maverick Ventures and Bonanza Capital.