Flip shut down and removed its app and social accounts. The website displayed a brief message saying the mission now comes to a close and provided an email for outstanding balances. The company reported 16.5 million users, 5 billion video views, $13.4 million paid to creators, and $375 million in brand sales. Flip combined short-form video, direct shoppable carts, creator payouts for engagement, and viewer discounts for watching. The FAQ promoted rewards and cash-outable creator earnings. Heavy product discounting drew scrutiny, even after a $144 million funding round that valued the company at $1.05 billion.
The Flip team's parting message on its website says its "mission now comes to a close," but lists statistics from the app's run: 16.5 million users, 5 billion video views, $13.4 million paid out to content creators and $375 million in sales for brands. The note also offered an email address to be contacted by anyone with an outstanding balance - Flip's app has disappeared from the Apple and Google app stores.
Before its closure, Flip blended some tried-and-true features of major tech companies. There was a short-form video feed, in the mold of TikTok. Users could add products mentioned in those videos directly to a cart, like with Amazon. Creators were paid for engagement on their posts, like on other social video apps, and users even got product discounts for just watching and scrolling.
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