New financial startup goes viral on TikTok, proving consumer validation and unlocking massive company growth potential
WHAT:
Fabric is experiencing groundbreaking traction through organic TikTok advertising, proving the importance and success for businesses using the popular app, TikTok. TikTok is no longer an app for Gen-Z’s to simply dance to the newest trending song, it is a place for financial learning and talk, or what people like to call it, #FinTok.
Fabric’s first post ever on TikTok went viral. Since then, almost each video has reached viral status, resulting in over 13k followers and over 5,000 consumers signing up for their Fabric Mastercard® Debit Card in less than 6 months. Consumers are learning that they can make money online by simply watching ads and they are going crazy for it!
Fabric’s TikTok account: @fabricpay_
Link to videos here.
WHEN:
Fabric’s TikTok presence began in March 2021 – present
WHERE:
Fabric is a new startup based out of Los Angeles, California
BACKGROUND:
Fabric created a consumer data marketplace for people to endorse brands and get paid. In simpler terms: “Watch Ads. Get Paid.”
www.wearefabric.io is the website where consumers can create their own profile, willingly share their data, watch ads from brands and get paid to give feedback. The customer is incentivized to give their data and feedback to the brand by being paid anywhere from $1-$10 for watching the ad, giving feedback, and sharing on their own social media platforms.
In return, brands get high quality data for lead generation that they can then use to target the correct audiences on the platform.
The Fabric Mastercard® Debit Card is a direct deposit account and debit card product that each consumer receives after watching $50 worth of ads. It takes about 30 minutes for a user to earn enough money to unlock their card. The card is sent to their home with an initial $50 payout on it for them to spend wherever they want on whatever they want!
The Fabric iOS App will be released in the spring of 2022 where consumers can scroll through ads like they scroll through TikTok and get paid immediately with the Cash Out feature.
Fabric is currently planning on raising a $20 Million Series A round in Q1/2022 to open the next 250k consumer bank accounts over the next 12 months.
Contact Paul Taylor in investor relations at: [email protected] to learn more about the Series A offering and to receive a copy of the Series A deck.
Media Contact
Company Name: Fabric
Contact Person: Paul Taylor
Email: Send Email
Country: United States
Website: https://www.wearefabric.io/
