CA-FLIP
19.7.2022 15:02:14 CEST | Business Wire | Press release
Flip, the next-generation e-commerce platform combining a TikTok-like discovery experience with a premium e-commerce service, announced a $60 million Series B funding round at a valuation of $500 million. The funding round was led by WestCap with participation from previous investors Mubadala Capital and Streamlined Ventures, bringing the company’s total capital raised to $95 million.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220719005030/en/
The Series B round follows a period of rapid growth where Flip grew its user base by 500% since the beginning of 2022, while growing transactions on the platform by over 600% during that same period. The company plans to use the funding to expand the team, deepen its brand partnerships, and launch its own third-party social commerce marketplace this summer.
Flip built an experience that combines the power of social discovery with the convenience of e-commerce in an organic fashion. Shoppers visit Flip as a single destination to discover and learn about products through 60-second videos of user-generated content that are instantly shoppable, with a one-click checkout and same day shipping. Shoppers can then turn into creators by sharing their own video reviews and monetizing them as other users in the community engage and shop through their content.
“Our thesis from day 1 was that the future of commerce is centered around people . No one sells a product better than the customer that has purchased that product multiple times, and we see that every day on Flip,” said Noor Agha, Founder and CEO of Flip. ”Through our patented technology that dynamically connects digital content to physical products, we’ve developed a seamless discovery-to-purchase cycle where users can shop instantly through content, share their own video reviews of products they’ve purchased, while monetizing their content over time. It’s the beginning of the next era in e-commerce.”
As the lead investor, WestCap will leverage its expertise in scaling and operating leading technology marketplaces, including Airbnb, iCapital, GoodLeap, StubHub and Hopper. Tina Yuan, Vice President of Investments at WestCap, will join Flip’s Board of Directors, and Brian Reinken, Partner at WestCap, will serve as a board observer.
"Flip has thoughtfully stitched together complex technologies to redefine and elevate the way we discover products and shop online," said Laurence Tosi, Founder and Managing Partner at WestCap. "Their cutting-edge social commerce model is here to stay and ready to scale. The beauty industry is a first-mover, but that’s just the beginning and we could see other industries follow suit.”
“As early investors in Flip, we’ve been impressed not just by the product, but by the speed of execution and innovation. The company delivers a novel e-commerce solution for today's consumers that has the potential to scale globally. We're happy to partner with the company on that journey,” said Ibrahim Ajami, Head of Ventures, Mubadala Capital.
Flip is also announcing the launch of its own third-party social commerce marketplace to extend access to the platform for independent brands, while enabling a single, trusted destination for shoppers. Emerging brands will now be able to access Flip’s social community of shoppers and creators along with a full suite of proprietary e-commerce tools. All brand partners will have their own dashboards with insights into their brand performance, including sales data, order management, content engagement, content performance, and more, enabling them to receive instant feedback from a social community of shoppers reviewing their products.
For more information about partnering with Flip, visit https://company.flip.shop/sellwithflip .
About Flip
Flip is building the next-generation social & live commerce platform for people to shop through other people. With a growing community of shoppers sharing video reviews of products they’ve purchased on the platform, buyers can discover products through 60 second videos of user-generated content that is instantly shoppable with a one-click checkout and same day shipping. Every shopper can then become a creator by sharing their own reviews and monetizing their content.
To learn more, visit www.flip.shop or download the Flip app on iOS or Android .
About WestCap
WestCap is a strategic investor and operator in growth equity that partners with visionary leaders to build generational companies. WestCap's team is comprised of seasoned entrepreneurs and company builders who work side-by-side with founders to help companies scale. WestCap has made notable investments like Airbnb, StubHub, Ipreo, Addepar, Hopper, iCapital, SIMON, GoodLeap and NYDIG. The firm has offices in New York, San Francisco and London. For more information, visit www.WestCap.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20220719005030/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Great Britain Leads Europe’s FMCG Inflation as NIQ Launches New Inflation Barometer6.8.2026 09:00:00 CEST | Press release
NIQ (NYSE: NIQ) today launches its new EU5 FMCG Inflation Barometer - a monthly tracker across five Western Europe markets – France, Great Britain, Germany, Italy and Spain – designed to help retailers, manufacturers and the media understand how inflation is evolving across Europe’s largest grocery markets and how shoppers are responding. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260806579111/en/ EU5 CPG Inflation slows to +1.1% The first edition of the Barometer reveals that while inflation across Europe’s FMCG sector remains relatively contained overall, significant differences persist between countries. Key findings include: Great Britain recorded the highest FMCG inflation across the EU5 at +2.3%1, above the European average of +1.1%. France and Italy reported the lowest inflation at -0.4% and +0.6% retrospectively, highlighting the uneven inflationary landscape across Europe's major economies. The monthly Barometer
NTT DOCOMO BUSINESS and Chile’s State-owned Copper Company CODELCO Launch a Study and Proof of Concept Aimed at Improving the Efficiency of Remote Copper Mine Operations Using IOWN® APN6.8.2026 06:30:00 CEST | Press release
NTT DOCOMO BUSINESS, Inc. (formerly NTT Communications Corporation) has launched a study and proof of concept jointly with Corporación Nacional del Cobre de Chile (CODELCO) to progress remote operations at CODELCO’s copper mines using an IOWN® All-Photonics Network (APN).1 This initiative is part of a research project commissioned by Japan’s Ministry of Internal Affairs and Communications.2 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260806845222/en/ Conceptual Diagram of the Demonstration To address operational challenges faced by CODELCO’s copper mines, the initiative will connect a copper mine and a remote operations center—approximately 1,500 km apart—via an IOWN APN. It will assess the feasibility of remotely operating heavy machinery using high-capacity, low-latency communication links, enhancing monitoring operations through high-definition video, and implementing a remote operations model. 1. Background Chile is o
FPT Named an OpenAI Select Partner6.8.2026 02:00:00 CEST | Press release
Global IT corporation FPT today announced that it has been named an OpenAI Select Partner within the OpenAI Partner Network. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260805503787/en/ FPT Named an OpenAI Select Partner The OpenAI Partner Network is a global program for partners to build, sell, and deliver AI solutions with OpenAI. It brings together partners with deep industry expertise, delivery capabilities, and customer relationships while equipping them with resources, enablement, and support to help enterprises adopt OpenAI frontier models and products and turn them into measurable impact. As an OpenAI Select Partner, FPT will continue working with OpenAI to help organizations build, deploy, and scale AI solutions responsibly and effectively. This work will help organizations get more useful work from every token and stronger performance per dollar with GPT‑5.6, while using ChatGPT Work to turn ambitious goals into
U.S. FDA Approves Takeda’s ORZEYFUL™ (oveporexton), the First and Only Medicine to Treat the Underlying Cause of Narcolepsy Type 16.8.2026 00:10:00 CEST | Press release
Adults Taking ORZEYFUL Experienced Significant and Meaningful Improvements Across the Full Range of Symptoms of Narcolepsy Type 1 (NT1) in Clinical Trials Compared to Those on Placebo As a First-in-Class Orexin Treatment, ORZEYFUL has the Potential to Redefine NT1 Care Beyond Individual Symptoms Takeda is Advancing U.S. Launch Preparations and Expects to Make ORZEYFUL Available Following Completion of the Drug Enforcement Administration (DEA) Scheduling Process Takeda (TSE:4502/NYSE:TAK) announced that the U.S. Food and Drug Administration (FDA) approved ORZEYFUL™ (oveporexton), an oral orexin receptor 2 (OX2R) agonist, for the treatment of narcolepsy type 1 (NT1, narcolepsy with cataplexy) in adults.* The persistent 24-hour nature of NT1 is driven by orexin deficiency and can severely impact people’s lives. As a first-in-class orexin treatment, ORZEYFUL is the only medicine indicated in the U.S. to treat the disease holistically rather than individual symptoms. “The FDA approval of OR
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)5.8.2026 22:30:00 CEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to fourteen newly hired non-executive employees. The equity awards were granted on August 3, 2026 and consisted of options to purchase an aggregate of 139,355 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 66,300 shares. The options have an exercise price per share equal to $11.25, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restricted
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom