Creator wishlist startup Throne has done so well that it’s returning investor funds back to them early.

In the world of content creation, fans often want to show their appreciation for their favorite creators by gifting them items from their wishlist. However, this process can be cumbersome and insecure, exposing the creator’s personal information to the fan. Enter Throne, a startup that has been making waves in the industry with its innovative approach to gift-giving.

A Brief History of Throne

Throne was founded in 2021 by Patrice Becker and Leonhard Soenke, two entrepreneurs who previously started the calendar management app Meeter. After acquiring Meeter by workflow automation startup Bardeen, they began exploring new ideas for their next venture. When some of their creator friends approached them with issues related to gift-giving, such as maintaining privacy and dealing with a limited catalog, Becker and Soenke saw an opportunity.

"There was no solution on the market for content creators to safely receive physical gifts," Becker told TechCrunch in an interview. "The core issue is creator privacy: The address of the creator cannot be revealed to the fan and thus we act as a firewall between creators and their fans."

How Throne Works

Throne allows creators to build a wishlist through various sources around the web, including online marketplaces and partner brands. Fans can then gift items from this list to the creator without exposing any personal information. The platform ensures that no sensitive data is shared with either party.

The company also offers a feature called "Turn into Crowdfunded Gift," which allows creators to turn wishlist items into crowdfunded gifts. This way, fans can contribute to a single item instead of buying it individually.

Security and Compliance

Last year, Throne faced a security bug that exposed creators’ private addresses. The startup fixed the issue promptly and claimed that an unnamed German data privacy expert confirmed there was no data risk.

Throne earns revenue by charging a commission to partner brands whose items are gifted to creators on sales. For non-partner brands, the platform charges a service fee on top of the gift’s price.

Diversifying Revenue Streams

In addition to its core business, Throne is launching a new service called Happy Wishlist, which focuses on wishlists for friends and family. Friends can order items from a wishlist to their own address, and hand them over physically at an event or party.

The startup doesn’t need to be involved in order fulfillment since the items are shipped directly to the friend’s address. Throne plans to monetize this service through affiliate links as well as partnerships with brands to take commissions from purchases.

Monetization Strategy

Becker stated that the company aims to make Happy Wishlist a "multi-million" revenue product within the next year, leveraging its monetization strategy.

Throne is diversifying its revenue streams instead of raising money, which sets it apart from other startups in the industry. By expanding its offerings and exploring new revenue models, Throne is poised for significant growth in the coming years.

Conclusion

Throne’s innovative approach to gift-giving has revolutionized the way creators and fans interact with each other. With a strong focus on security and compliance, the platform has become a trusted solution for those seeking to show their appreciation for their favorite creators.

As Throne continues to expand its offerings and diversify its revenue streams, it will be exciting to see how this startup evolves in the years to come.

About the Author

Ivan Mehta is a journalist covering global consumer tech developments at TechCrunch. He has previously worked at publications including Huffington Post and The Next Web. You can reach out to him at im[at]ivanmehta[dot]com.

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