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Coined as the “Everyday Influencer” platform, Mavely is a social commerce app that enables users to earn commission by sharing and recommending products from more than 1,250 brands, including Adidas, Anthropologie, Foot Locker, Lululemon, Macy’s, Nordstrom Rack, and Old Navy.
The company announced Tuesday that it reached a gross merchandise value (GMV) run rate of over $675 million, which it claims is an increase of over 175% from the previous period last year. Mavely says its take rate, or how much it earns from transactions, ranges between 10% to 40% of GMV.
Mavely’s growth trajectory speaks to the overall influencer marketing landscape, which many believe to have a promising future ahead. The industry is anticipated to grow to approximately $24 billion by the end of this year.
However, unlike other platforms that require a certain follower count to join, Mavely’s platform mainly caters to micro- and nano-influencers who are considered to have higher engagement rates and more honest reviews about products. With Mavely, anyone can sign up and earn a 5% commission by sharing shoppable links, along with a 10% referral commission. The platform also offers access to brand campaigns, exclusive promotions, and a monthly bonus program that provides an additional 25% on top of their earnings.
From January through July, Mavely paid out over $16 million in commissions, campaign fees, and other earnings to its more than 85,000 creators. To date, the platform has paid out more than $37 million to its influencers and touts over 5.6 million influencer-driven purchases.
Image Credits: Mavely
CEO and co-founder Evan Wray said in a statement to TechCrunch, “In a world inundated with blue check marks and follower counts, consumers are in constant search for authenticity from creators they can see themselves in and are easily deterred from creators who are not perceived to be genuine. At Mavely, we see this trend growing as smaller creators are becoming the new ‘word of mouth’ and align themselves with brands that suit their lifestyle and interests.”
The GMV milestone comes on the heels of Mavely launching its Meetups offering, which are in-person events where influencers can network with peers and companies. Since launching Meetups in July, Mavely has hosted two events and has five more in the pipeline.
Mavely was founded in 2019 by Wray, Peggy O’Flaherty, and Sean O’Brien and has since been acquired by Nu Skin Enterprises, a marketing, and personal care product company, through its investment arm Rhyz. Wray and O’Brien previously co-founded Swyft Media, a mobile messaging startup that was acquired by Monotype Imaging.
The company is backed by PivotNorth Capital and has raised a total of $2 million in funding.
