Influencer Marketing Platform LTK Valued At $2 Billion
Global influencer marketing platform, LTK, has raised $300 million from SoftBank at a valuation of $2 billion.
The ten-year-old Dallas-based company was originally founded by fashion blogger-turned entrepreneur, Amber Venz Box, and her now-husband Baxter Box.
LTK, formerly known as rewardStyle and LIKEtoKNOW.it, enables influencers to monetize their fashion content through affiliate links. It has also expanded its offering to include growth consulting and brand partnership support.
The investment from Softbank marks an effort to further develop the technology that supports the way consumers shop.
“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 funds provided by SoftBank Vision Fund 2 will help the platform expand its consumer shopping experience and scale internationally.
With the investment, SoftBank has also appointed Angela Du, an investment director at SoftBank, to the LTK company board, which includes the founders, as well as directors from Maverick Ventures and Bonanza Capital.
Goldman Sachs & Co. LLC served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal counsel to LTK.
Originally published at https://retailbum.com on November 23, 2021.