LinkinBio startup Linktree announced Wednesday that it has surpassed 50 million users.
This figure marks a significant increase from the company's 2.7 million users in 2019. The company has been growing consistently, adding nearly 10 million users (which Linktree calls linkers) in just five months. The company told TechCrunch it had 41 million users, but reported in March of this year that it had more than 47 million users.
Although Linktree is considered one of the top linkedin bio tools on the market, its competitors own a much smaller percentage of the pie. Beacons has more than 2 million users, compared to its competitor Later, which has around 7 million users.
“It's amazing how we've gotten to this point with a Linker-first attitude. We now offer more than 50 million Linkers a unique space to grow and monetize.” said Linktree co-founder and CEO Alex Zaccaria in a statement to TechCrunch.
The company also said it will launch a beta version of its social commerce service. The new program, which was in alpha in March, allows creators to add their storefront to a link on their bio page and earn a 12-15% commission on sales. All users will be able to apply to join the program later this year.
The experiment initially launched with a few brands (Revolve, Sephora, Urban Outfitters) and was only available to a handful of creators. Starting today, Linktree is opening it up to a wider audience, adding more than 2,000 brands, including Adidas, Lululemon, New Balance, and Net-a-Porter. Creators have access to a huge product catalog with thousands of items that can be highlighted in store.
The company also added new features in parallel with the launch of the beta version. Users can now upload user-generated content and promote related content from their social media accounts along with recommended products.
Image credit: Linktree
Linktree's social commerce services can be useful for influencers, as they provide them with an effective way to monetize their audience. According to Accenture, the global social commerce market is expected to reach $1.2 trillion by 2025.
“The goal of this program is to enhance the organic social commerce activity seen on the platform and make this easier for both Linkers and brands,” said Lara Cohen, VP of Brand Development at Linktree. told TechCrunch. “We estimate that Linker generates more than $6 billion in annual revenue. [gross merchandise value] “Already via Linktree. We want to reduce friction and increase conversions by reducing the number of clicks required to make a purchase and empowering customers to discover products that linkers love directly in Linktree.”
The new program signals Linktree's intent to evolve into a more versatile service with more revenue streams.
Citing proprietary data, LinkTree generated more than 240 million commerce clicks from links last month, equating to about $300 million in monthly commerce sales, a company spokesperson said, citing proprietary data.
Linktree has come a long way since its founding in 2016 and is now used by everyone from part-time content creators to celebrities like Demi Lovato, Paris Hilton, and Robert Downey Jr. . The White House also uses Link-in-bio solutions. Direct U.S. citizens to online resources.
The company has also made significant investments over the past year, acquiring two small startups in the LinkInBio space, Koji and Bento. Linktree declined to comment on what it plans to do with both platforms.
However, not everything was smooth sailing. Linktree will lay off 27% of its workforce in June 2023, with many employees in Australia and New Zealand being laid off by the company. In a memo to his employees, Mr. Zaccaria said the layoffs will help Linktree shift its focus to further growth in the United States, the company's largest market. The job cuts follow a series of job cuts in 2022, when 17% of staff were made redundant.
Linktree has raised more than $165 million in funding to date and is valued at more than $1 billion.