TLDR:
- 29-year-old Lucy Guo secures $40 million Series A funding for Passes, her creator monetization platform.
- Passes aims to help content creators diversify their income streams through direct audience engagement.
Exclusive: 29-year-old self-made millionaire Lucy Guo has secured a $40 million Series A funding for her latest venture, Passes, a creator monetization platform. Previously raising $9 million in seed funding, Passes aims to help content creators earn money directly from their audience through exclusive content, messaging fans, livestreaming, one-on-one calls, and accepting tips. The platform charges a 10% fee plus a 30-cent transaction fee on each payment. Guo plans to use the funding to expand her team and integrate AI technology into the platform for streamlined sales features.
Guo, who previously cofounded the unicorn Scale AI, has been an entrepreneur since childhood, starting by selling Pokémon cards in elementary school. With a focus on turning creators into successful businesses, Passes already supports 900 creators and 500,000 fans, with the top 10 creators projected to earn over $1 million each this year. The platform differentiates itself by offering unique features like screenshot-blocking technology and automated sales messages to fans. Guo’s goal is to provide a more consistent income source for creators, in contrast to the fluctuating nature of brand deals and platform algorithms.
