Mavely Achieves Major Milestones: $675M+ Run Rate with Increased Growth and Creator Payouts

Rhea-AI Summary

Mavely, the Everyday Influencer Platform, has achieved significant milestones in the first half of 2024. The company has reached a GMV run rate of over $675 million, marking a 175% growth from the previous year. Additionally, Mavely has paid out over $37 million in commissions and other earnings to creators, with $16 million disbursed in 2024 alone. The platform has also added over 250 new brands this year, bringing its total to more than 1,250 brand partners, including names like ELEMIS, Etsy, and Samsung.

Mavely has facilitated over 5.6 million influencer-driven purchases and onboarded 35,000 new creators in 2024. The company received the Rakuten Advertising 2024 Golden Link Award and the Chicago Innovation Awards for its contributions to influencer marketing. CEO Evan Wray attributes this success to the dedication of creators, the Mavely team, and trusted brand partners. Mavely continues to focus on community-building through initiatives like regional Mavely Meetups and aims to set new industry standards while supporting creators and brand partners.

Positive

• Achieved a GMV run rate of over $675 million, marking a 175% growth from the previous year.
• Paid out over $37 million in commissions and other earnings to creators, with $16 million in 2024 alone.
• Added over 250 new brands, including ELEMIS, Etsy, and Samsung, for a total of more than 1,250 brand partners.
• Facilitated over 5.6 million influencer-driven purchases and onboarded 35,000 new creators in 2024.
• Received the Rakuten Advertising 2024 Golden Link Award and the Chicago Innovation Awards for contributions to influencer marketing.

Negative

• None.

Insights

Financial Analyst

Mavely's financial performance is impressive, with a GMV run rate exceeding $675 million, representing 175% year-over-year growth. This rapid expansion positions Mavely as a formidable competitor in the influencer marketing space, approaching Shopify Shop app's estimated GMV. The payout of $37 million in creator commissions to date, with $16 million in 2024 alone, indicates a robust revenue-sharing model that could attract and retain top influencer talent.

However, investors should note that Mavely's actual revenue is likely 10-40% of the GMV, based on their stated take rate. This implies annual revenue between $67.5 million and $270 million. The company's profitability remains unclear, as high creator payouts and operational costs could impact margins. The addition of 250 new brand partnerships this year is a positive sign for future growth potential, but sustainability and market saturation should be monitored closely.

Market Research Analyst

Mavely's growth trajectory in the influencer marketing sector is noteworthy. With 5.6 million influencer-driven purchases and 35,000 new creators joining in 2024, the platform demonstrates strong network effects. The expansion of brand partnerships to include major players like ELEMIS, Etsy and Samsung suggests increasing market penetration and diversification of revenue streams.

The launch of regional Mavely Meetups indicates a strategic focus on community building, which could enhance creator loyalty and platform stickiness. This approach, combined with their performance-driven model, positions Mavely uniquely in the crowded influencer marketing landscape. However, the industry is highly competitive and evolving rapidly. Mavely's ability to maintain its growth rate and adapt to changing social media trends will be important for long-term success. Investors should watch for metrics on creator retention, average revenue per creator and the platform's ability to drive sales for brands consistently.

Everyday Influencer Platform^® Continues to Help Drive Sales at Scale for the World's Leading Brands

CHICAGO, Aug. 27, 2024 /PRNewswire/ -- Mavely, the Everyday Influencer Platform^®, today announces remarkable achievements, underscoring its position as a rapidly growing player in the influencer marketing industry. With incredible growth and significant financial milestones in the first half of 2024, Mavely continues its momentum to empower people to monetize their content by promoting the world's favorite brands.

Key Highlights:

• Business Growth and GMV Run Rate: Mavely has reached a GMV (Gross Merchandise Value) run rate of over $675 million*, over 175% growth from the previous period last year and approaching Shopify Shop app's estimated GMV run rate* as published by Shopify.
• Creator Payouts: To date, Mavely has paid out over $37 million in commissions, bonuses, campaign fees and other incentives to its creators. In 2024 alone, Mavely has paid out over $16 million in commissions and other earnings to creators from January through July.
• Brand Partnerships: Mavely has welcomed more than 250 new brands this year including ELEMIS, Etsy and Samsung, adding to a growing roster of more than 1,250 brand partners that include renowned retailers like Old Navy and QVC, further enriching the platform's diverse offerings.
• Industry Momentum: With more than 5.6 million influencer-driven purchases and 35,000 new creators joining the platform so far this year, Mavely continues to elevate the influencer marketing landscape.

"We are thrilled to see such amazing growth and to reach these incredible milestones," said Evan Wray, CEO of Mavely. "Our success is a testament to the hard work of our creators, the Mavely team, and the trust of our world-class brand partners. We are committed to continually adding value and fostering a community where everyday creators are empowered to monetize their content, all while delivering performance marketing results for our brand partners."

Award-Winning Partnerships and Creator Community

Mavely's innovative approach has been recognized with recent awards, such as the Rakuten Advertising 2024 Golden Link Award for Best Influencer Marketing Strategy for Mavely's work with Shop Premium Outlets, and the Chicago Innovation Awards, cementing Mavely's status as a leader in the influencer marketing industry. The company's dedication to adding value for creators while delivering performance sales results for brands is evident through continuous product enhancements, integrations, and in-person events.

Mavely Meetups

As part of its commitment to building a robust creator community, Mavely has launched regional Mavely Meetups. These in-person events bring together Mavely influencers and the broader influencer community, providing valuable educational and networking opportunities with peers and brands, and strengthening camaraderie among Mavely creators.

Looking Ahead

These milestones mark a significant step forward for Mavely and its stakeholders. As Mavely continues to grow, the company remains dedicated to supporting its creators and brands by developing exciting partnerships that will enhance user experience, set new industry standards, and drive innovation.

*Mavely's current GMV run rate is based on a three-month average transaction volume, May – July 2024. Mavely's take rate, or the percentage of sales that Mavely earns, ranges between 10-40% of GMV depending on the sales and influencers. Affiliate earning percentages for creators are determined by the brands and listed within the Mavely app. Shopify Shop's GMV is estimated by one source to be approaching $1 billion; this is based on a reported $100 million GMV during one month in the fourth quarter of 2023.

About Mavely

Mavely is the Everyday Influencer Platform^® that empowers real people to monetize their content by promoting the world's favorite brands. Deploying a performance-driven approach to influencer marketing, Mavely's network of creators drives hundreds of millions of dollars each year in sales for brand partners across diverse niches and platforms, with attributable data from post to purchase. Mavely is part of Rhyz, a subsidiary of Nu Skin Enterprises (NYSE: NUS). Learn more about Mavely at joinmavely.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mavely-achieves-major-milestones-675m-run-rate-with-increased-growth-and-creator-payouts-302231763.html

SOURCE Mavely

FAQ

What is Mavely's GMV run rate as of August 2024?

Mavely's GMV run rate is over $675 million as of August 2024.

How much has Mavely paid out to creators in 2024?

Mavely has paid out over $16 million in commissions and other earnings to creators in 2024.

How many new brands has Mavely added in 2024?

Mavely has added over 250 new brands in 2024.

What awards has Mavely won in 2024?

Mavely has won the Rakuten Advertising 2024 Golden Link Award and the Chicago Innovation Awards.

How many new creators joined Mavely in 2024?

35,000 new creators joined Mavely in 2024.