LTK, formerly known as rewardStyle and LIKEtoKNOW.it, is a pioneer in the creator economy and the largest global influencer marketing platform. Founded in 2011 by Amber Venz Box and Baxter Box, LTK has grown into a three-sided marketplace catering to creators, brands, and shoppers. The platform allows social media influencers to make their posts shoppable and connects them with brands for marketing campaigns. LTK currently works with over 200,000 curated creators, 5,000 retailers, and more than 1 million brands.
In November 2021, LYK raised $300 million from SoftBank's Vision Fund, valuing the Dallas-based company at $2 billion. The investment will be used to accelerate growth initiatives, expand the company's international presence, and develop new products for creators, brands, and shoppers.
“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.”
LTK has been profitable for many years, with consumers purchasing more than $3 billion worth of products annually through the platform. Creators on LTK earn between 10% and 25% commission on sales, while the platform earns a transaction fee from these sales. The success of LTK highlights the increasing interest of consumers in shopping through recommendations from the people they follow, with more than 130 influencers becoming self-made millionaires through the platform.
“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.
The company's mission is to empower premium lifestyle creators to be as economically successful as possible. With millions of monthly high-intent shoppers, LTK's app data and team expertise have been paramount to the success of its campaigns. The platform sees conversion rates four times higher than when creators share product links on social media, making it an attractive choice for both brands and creators.
