QRTD will be launching this year
QRTD is a social commerce marketplace that aims to democratize the shopping experience by allowing anyone to become a creator and earn money promoting products they love. The platform plans to compete with tech giants like Google, Amazon, and TikTok, with the goal of reaching 100 million users within four years.
Everyone should be able to make money on QRTD from day one. QRTD believe their platform offers a more democratic approach to shopping than other social media sites. They claim that Instagram, TikTok, and Facebook take most of the revenue generated by users on their platforms, leaving little for the creators. QRTD hope to change this by giving users more control over their earnings and providing a platform where anyone can become a creator.
Users can purchase the products directly through the platform, with 15% of the sales going to the influencer, 7.5% going to QRTD, and the rest going to the company selling the product.
The platform has already raised 50 million NOK in funding, valuing the company at 220 million NOK. The platform plans to launch in Norway this year and quickly expand globally. QRTD's team will be based in Norway, with the company's headquarters in London. QRTD is also in the process of hiring a new CEO to lead the company's global expansion.
QRTD plans to monetize the platform by hosting competitions where users can win prizes, and by charging a small fee to companies selling products through the platform. QRTD believe their business model is scalable and efficient, and they hope to reach profitability by 2024.
While QRTD acknowledge that larger tech companies could attempt to replicate their business model, they believe that QRTD's focus on democratization sets them apart.
Go to their website to read more and join their waitlist: https://www.qrtd.com/