Grapevine, an end-to-end influencer marketing platform, has acquired ReadyCart, a turnkey affiliate shopping platform designed for YouTube creators. The addition, will provide a new way for content creators in Grapevine’s network to monetize their content in harmony with branded content opportunities.
“Our goal is to provide unmatched value to the entire creator community which consists of millions of creators across YouTube, Instagram, Facebook, Snapchat and other platforms. ReadyCart is a big step towards that,” said Grant Deken, Co-Founder and CEO of Grapevine. “Now every content creator, regardless of size or content category, will be able to better monetize their video content by delivering a relevant and enjoyable shopping experience to their fans, starting with the 130,000+ creators in the Grapevine network.”
Founded in 2013, ReadyCart helps YouTube creators build content-specific shopping carts that feature products from their videos. Audiences can visit the shopping carts by clicking a link to see all of the products mentioned in the video.
“ReadyCart is the first portfolio company that Very Ventures, the investment arm of Very, has backed from beginning to exit,” said Jonathan Bragdon, a partner with Very. “It represents the kind of innovation and strategic market disruption that we’ll continue to seek out.”
“We spun ReadyCart out of our product development services firm because we saw a massive opportunity enabling commerce for YouTube creators,” said Jesse Morris, a partner with Very. “This transaction will allow the thousands of influencers across Grapevine’s incredible network to seamlessly generate incremental revenue, roll out network-wide brand campaigns and connect engagement activities to purchases.”
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Recent research found that more than one-third of Millennials have purchased a product after viewing sponsored content. Additionally, digital content consumption continues to pick up pace. A 2016 report from Global Web Index found that 60% of media time is spent consuming digital content. YouTube is on track to surpass TV as the most watched format in the U.S., and viewers are making their purchase decisions based on what influencers are sharing in their videos.
“Sponsorships are a big opportunity for creators like me, but they only represent a small portion of the total revenue I could be making from affiliate sales on the products I talk about and recommend to my fans. Having a tool like ReadyCart is great because in one step I can enable affiliate commerce across all of my YouTube content,” said Enobong Etteh, Founder of Boored at Work, a technology focused YouTube channel with more than 200,000 subscribers.