Throne, the Creative Gift Platform, Returns Investor Money and Launches New Service
Throne, the innovative creative gifting platform, is thriving and recently repaid invested funds. Founded by Patrice Becker and Leonhard Soenke in 2021, Throne enables fans to gift desired items to creators while ensuring privacy protection. Previously, the duo established Meeter, a calendar management app, which was acquired by Bardeen.
Last year, Throne secured $830,000 via a Simple Agreement for Future Equity (SAFE) note from investors including Ryan Hoover’s Weekend Fund, Cory Levy from Z Fellows, and B8ta’s Vibhu Norby. With a valuation cap of $30 million, this funding allowed Throne to expand its offerings.
However, after experiencing significant success – exceeding $1 million in monthly gift purchases and growing at a 50% monthly rate – Throne leadership determined that the market may not support a venture-backed outcome. Instead, they chose to focus on profitability and paid back all investments by December 2023.
In addition to servicing over 400,000 creators, Throne partners with brands to facilitate transactions and generates income through commissions. Their latest offering, Happy Wishlist, caters to personal gifting among friends and family. By enabling friends to purchase items directly from a wishlist and deliver them personally, Throne avoids involvement in order fulfillment. Monetization strategies include affiliate links and brand collaborations.
With a mission to diversify revenue streams, Throne continues to innovate and grow while remaining independent.
