Draft:Foap.com
Submission declined on 18 January 2024 by BuySomeApples (talk).
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Foap is an online platform and digital marketplace established to facilitate connections between brands and a global community of creative professionals. It specializes in offering a diverse range of photographic and video content. The platform enables brands to engage with photographers and videographers, allowing them to contribute to brand enhancement through creator-generated content. Foap provides a set of tools aimed at expanding content production for brands, fostering community engagement, and enabling effective marketing and content submission strategies.[1][2]
Key aspects[edit]
Business Model[edit]
Initially, Foap's business model centered on the sale of photographs uploaded by its users. These photographs are uploaded from mobile devices to the Foap Market through an application available on iOS and Android. The photographs undergo a validation process involving community review before being made available on the Foap Market. Each photo is rated by five different users ("Foapers") on a scale from one to five. A photo is published if it achieves an average rating of 2.5 or higher. Photos are offered for licensing at a price of $10 each, with revenue being equally split between Foap and the user in the event of a sale.[3][4]
Foap subsequently expanded its offerings to include 'Foap Missions' and 'Premium Missions.' In Foap Missions, brands assign specific, image-related tasks to the community. Premium Missions are similar but offer higher rewards and include more winners. Brands can provide a mission description, title, deadline, and state the reward.[5][6][7][8]
History[edit]
Foap was co-founded by David Los and Alexandra Bylund in 2011. As of 2014, the platform had accumulated over 500,000 active users and was adding approximately 130,000 approved photos each month. One of the initial challenges faced by the company was the development of a minimum viable product that met the standards for public release. The company has since continued to introduce new features and improvements to enhance its service offerings.[9]
Funding[edit]
Foap's initial funding round occurred on November 13, 2012. To date, the company has raised over $4 million across four funding rounds. The most recent funding, a Series A round, took place on December 8, 2014, and amounted to $2.3 million. This round saw the participation of five investors, including notable figures such as Gary Vaynerchuk, Jordan Rednor, Jeff Zucker, and Niklas Ostberg.[10][11]
References[edit]
- ^ "Foap: Revenue, Competitors, Alternatives". growjo.com. Retrieved 2024-01-16.
- ^ AB, Foap (2018-11-07). "Foap Recognized as Facebook Marketing Partner Enabling Marketers to Generate Authentic Video Creatives for Marketing Campaigns". GlobeNewswire News Room (Press release). Retrieved 2024-01-16.
- ^ "Foap Review 2024 (Should You Sell Your Photos on Foap?)". expertphotography.com. 2021-04-29. Retrieved 2024-01-15.
- ^ "How To Use Foap App To Earn Money From Selling Your iPhone Photos". iPhone Photography School. 2018-11-27. Retrieved 2024-01-16.
- ^ "The ULTIMATE Guide to Foap | The Smartphone Photographer". thesmartphonephotographer.com. Retrieved 2024-01-15.
- ^ "Foap Founder: Community Is Key to the Mobile Stock Photo Business". MediaShift. 2013-11-13. Retrieved 2024-01-15.
- ^ Stefan (2018-12-20). "Foap App Review - Creators Struggle to Make Money!". My Room is My Office. Retrieved 2024-01-16.
- ^ Tucker, Jamey (2021-03-08). "APP OF THE DAY: How the 'Foap' app can put some money in your pocket". Local3News.com. Retrieved 2024-01-16.
- ^ Charlton, Graham (2013-02-06). "Start Me Up! A profile of Foap". Econsultancy. Retrieved 2024-01-15.
- ^ "Foap - Raised $5M Funding from 9 investors - Tracxn". tracxn.com. 2024-01-09. Retrieved 2024-01-15.
- ^ "Foap AB - Crusdata Company Profile & Growth". crustdata.com. Retrieved 2024-01-16.
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