Gumroad

From Wikipedia, the free encyclopedia
Gumroad, Inc.
IndustryDigital distribution, self-publishing, e-commerce.
Founded2011; 12 years ago (2011)
FounderSahil Lavingia, Sachin Khanna
HeadquartersSan Francisco, California, U.S.
Area served
Worldwide
Websitegumroad.com

Gumroad[1] is an e-commerce platform that allows creators to sell products directly to their audience. The platform was founded by Sahil Lavingia in 2011 and is based in San Francisco, California. Gumroad enables creators to sell digital products, such as e-books, music, videos, and software, as well as physical goods. The platform provides creators with tools to create custom landing pages, track sales, and process payments. Gumroad's primary focus is on serving independent creators, such as writers, musicians, and designers, who want to sell their products without going through intermediaries.

History[edit]

Founder Sahil Lavingia in 2010

Sahil Lavingia built the first iteration of Gumroad over a single weekend in 2011. Sahil is a self-taught developer who has said in an interview that he learned coding by searching through each problem he hit on Google. Lavingia, who was previously the first designer hired at Pinterest and the designer of Turntable.fm, was 19 years old at the time.[2][3][4]

The idea for Gumroad came to Lavingia when he wanted to sell a photorealistic icon he had created and realized that the amount of effort it took to sell an item directly to consumers was considerable. He decided to build a service that would make the process as easy as sharing web content.[2]

In February 2012, while still the sole member of Gumroad, Lavingia announced a $1.1 million seed round from a notable group of investors including Accel, Chris Sacca, Max Levchin, SV Angel, Josh Kopelman, Seth Goldstein, Naval Ravikant and Danny Rimer.[3]

Three months later, it was announced that Kleiner Perkins Caufield & Byers had led a $7 million Series A round for Gumroad. The investment was the first made by former Twitter engineering head Michael Abbott as a KPCB partner.[5]

On September 8, 2014, Twitter announced its first commerce product, the Buy Now button, in partnership with Gumroad,[6] the Buy Now and Gumroad partnership was discontinued on January 7, 2017.[7]On September 30, 2014, Gumroad released its first mobile product, a utility iPhone app that acts as a mobile library for content purchased via Gumroad.[8][9]

Creators on Gumroad[edit]

Many major and independent musicians have sold products via Gumroad, including Eminem,[10] Bon Jovi,[11] Garth Brooks,[12] David Banner,[13] Ryan Leslie[14] and others.

Magnolia Pictures distributes a curated selection of films via Gumroad.[15] Landmark Theatres also curates a selection of films distributed via Gumroad, including Jiro Dreams of Sushi, Man on Wire, Gonzo, Page One: Inside the New York Times, and Jesus Camp.[16]

Best-selling authors like Tim Ferriss,[17] Chris Guillebeau,[18] and John Green[19] also publish their books on Gumroad.

Controversies[edit]

NFTs[edit]

On February 5, 2022, cartoonist Box Brown replied to a now-deleted tweet from CEO Sahil Lavingia about a project that uses non-fungible tokens. Brown was concerned if such plans were true. Gumroad announced via Twitter that it did not currently have plans to implement NFTs on the platform.[20][21]

In response to the controversy related to NFTs, Gumroad's competitors such as Itch.io and Ko-Fi, confirmed that they do not have plans to use NFTs.[22][23]

See also[edit]

References[edit]

  1. ^ "Gumroad – Sell what you know and see what sticks". gumroad.com. Retrieved 2023-01-21.
  2. ^ a b Holmes, David. "Who’s Next: Pinterest Designer Sahil Lavingia and His New E-Commerce Site Gumroad" Archived 2014-12-14 at the Wayback Machine, Fast Company, 25 April 2012.
  3. ^ a b Tsotsis, Alexia. "Gumroad Gets $1.1 Million From Chris Sacca, Max Levchin and Others to Turn Any Link Into a Payment System" Archived 2017-07-04 at the Wayback Machine, TechCrunch, 8 Feb 2012.
  4. ^ Shontell, Alyson. "The Most Interesting Teenager in Silicon Valley" Archived 2014-12-14 at the Wayback Machine, Business Insider, 2 April 2012.
  5. ^ Gannes, Liz. "Kleiner Perkins Leads $7M Funding for Payments Upstart Gumroad" Archived 2014-10-23 at the Wayback Machine, All Things Digital, 7 May 2012.
  6. ^ Brustein, Joshua. "Explaining Twitter’s New ‘Buy’ Button" Archived 2014-12-14 at the Wayback Machine, Bloomberg Businessweek, 8 September 2014.
  7. ^ "Twitter is phasing out the "Buy" button, will continue to offer donations". TechCrunch. Archived from the original on 2022-08-20. Retrieved 2021-09-22.
  8. ^ Ifeanyi, KC. "Online Marketplace Gumroad Launched An iPhone App" Archived 2014-12-14 at the Wayback Machine, Fast Company, 30 September 2014.
  9. ^ DBW. "New Gumroad iPhone App Helps Authors Sell EBooks Direct" Archived 2014-12-15 at the Wayback Machine, Digital Book World, 30 September 2014.
  10. ^ "Eminem on Gumroad". Gumroad. Archived from the original on 2016-04-07.
  11. ^ "Bon Jovi’s Gumroad Page" Archived 2014-12-14 at the Wayback Machine, Gumroad
  12. ^ "Garth Brooks’ Gumroad Page" Archived 2014-12-14 at the Wayback Machine, Gumroad
  13. ^ Popper, Ben. "Girl Talk goes Gumroad: a web payment startup woos pop stars" Archived 2016-10-23 at the Wayback Machine, The Verge, 17 August 2012.
  14. ^ "Ryan Leslie’s Gumroad Page" Archived 2014-12-14 at the Wayback Machine, Gumroad
  15. ^ "Magnolia Pictures" Archived 2014-11-21 at the Wayback Machine, Magnolia Pictures
  16. ^ "Landmark Theatres" Archived 2014-12-14 at the Wayback Machine, Landmark Theatres
  17. ^ "Tim Ferriss’ Gumroad Page" Archived 2014-12-14 at the Wayback Machine, Gumroad
  18. ^ "Chris Guillebeau on His New NYT Best Seller, Writing, and the Road" Archived 2014-09-26 at the Wayback Machine, Gumroad Blog
  19. ^ "Things I Can Do" Archived 2014-12-14 at the Wayback Machine, John Green’s Blog
  20. ^ @gumroad (2022-02-05). "If and when we do anything related to crypto/NFTs, you'll hear it from us first. For now, no plans" (Tweet) – via Twitter.
  21. ^ Menegus, Bryan (2022-02-08). "Gumroad faces backlash over alleged NFT ambitions". Engadget. Yahoo. Archived from the original on 2022-02-08. Retrieved 2022-02-08.
  22. ^ @kofi_button (February 5, 2022). "We've been getting a lot of questions about NFT's again today… and to reiterate, it's firmly in the 'No Flipping Thanks' column ✌️" (Tweet) – via Twitter.
  23. ^ @itchio (February 6, 2022). "A few have asked about our stance on NFTs: NFTs are a scam. If you think they are legitimately useful for anything other than the exploitation of creators, financial scams, and the destruction of the planet the we ask that please reevaluate your life choices. Peace ✌️" (Tweet) – via Twitter.

External links[edit]