Linktree raises $45 million in investments
Linktree, a famous platform that gathers URLs (or “link in the bio”) for social networks, is raising $45 million in investments. The tool gained even more popularity during the pandemic, as people are spending more time on social media. In addition, online shopping helped boost Linktree during that time.
After they got about four million users during the pandemic, today, more than 12 million people use Linktree. The company raised $45 million in Serie B, led by Coatue and Index Ventures. As a result, Dan Rose, president of Coatue, which also invests in TikTok, will serve on the Board of Directors of Linktree.
In October last year, Linktree had already gone through another round of investments (Series A) and raised $10 million.
“When we launched Linktree, we created a whole new category. We were the first in the market and, with more than 12 million users globally, we still hold 88% of the market share. Inevitably, we have seen many competitors emerge as a result, but part of Linktree’s uniqueness is its seemingly simple design, ”said Alex Zaccaria, founder and CEO of Linktree, in an interview with TechCrunch.
The platform is now considered a success, as large companies and celebrities use Linktree on their social networks. The feature is used by Instagram, Facebook, TikTok, HBO, Shopify and artists such as: Selena Gomez, Jamie Oliver, Pharrell Williams, among others.
“We may have started out as a link tool in the bio, but over time Linktree has evolved and the platform has become a layer of social identity on the internet,” says Zaccaria.
With this latest investment, the company plans to facilitate payments on the tool, with just one click.