Spend any time on Instagram and you’ll probably hear the phrase, “link in bio.” Turns out that the little link is big business.
Last week, Linktree, the Aussie startup behind bio links for influencers like Selena Gomez and Gary Vee, closed a $45m Series B round of funding just 5 months after raising $10.7m in the previous round.
What’s so special about the bio link?
“Link in bio” services give social media users an easy way to gather links outside of social apps. Platforms like TikTok and Instagram are notoriously stingy with coveted off-site links, allowing most users a single URL located in… their bio.
The services function like a pseudo website for influencers and brands where they can host affiliate links, newsletter signups, and even sell products.
In this link-land, Linktree is the top dog
Founded in 2016, Linktree was one of the first “link in bio” providers and now the most popular with 12m+ users and 88% of market share.
About 1/3 of those users signed up in the last 3 months, driven by the pandemic-related surge in ecommerce and social media binging, per Linktree.
The company plans to use the cash to grow its headcount and open “creator hubs” across the globe to double as Linktree offices.
More in Linktree’s bio…