#36: Peter Thiel Backed Their $300M Software Marketplace
Mar 28, 2024
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Co-founders of Whop, a platform backed by Peter Thiel, discuss their $300M software marketplace supporting young internet hustlers. The podcast covers their journey, revenue generation strategies, and the platform's role in facilitating entrepreneurial opportunities for Gen Z.
Whop is a platform similar to Etsy for digital products that has raised $17M and facilitated $300M in transactions, attracting investments from Peter Thiel and James Harden.
EasyA is a mobile app like Duolingo for Web3 that teaches blockchain programming, utilizing a unique B2B2C model generating millions in revenue through hackathon strategies.
Deep dives
WAP: Creating Marketplace for Digital Goods
Three young entrepreneurs, Steven Schwartz, Jack Sharkey, and Cameron Zaup, raised $17 million to establish WAP, a platform resembling Etsy for digital products like software and access to communities. Initially skeptical, the venture took off after three months, garnering over $4 million in revenue and handling $300 million in transactions. Their strategic move to retain the business despite early doubts paid off, attracting significant investments and achieving rapid growth.
EZA: Simplifying Blockchain Development
Brothers Phil and Dom Kwok introduced EZ-A, a platform targeting Web 3.0 developers by offering a Duolingo-like experience to learn blockchain programming. Their business model involves top blockchains paying EZA to educate developers, promoting ecosystem growth. EZA's innovative approach includes hosting monthly hackathons awarding winners with startup funds, leading to successful collaborations and significant contributions to the crypto industry.
Commonalities between WAP and EZA
Both WAP and EZA appeal to the Gen Z demographic seeking opportunities in digital entrepreneurship. They emphasize providing avenues for skill acquisition and income generation, resonating with a generation inclined towards alternative career paths. Their success lies in facilitating learning and earning potentials, aligning with the evolving landscape of education and employment.
Future Implications and Expansion
The aspirations of WAP and EZA highlight a growing trend towards empowering young individuals through digital platforms. Their ambitions to engage a billion developers and promote blockchain literacy showcase a commitment to broadening participation in emerging technologies. Progressing as B2B2C models, they aim to shape the future workforce and drive innovation in diverse industries.
In #36, Michael Sikand (@michaelsikand) and Simran Sandhu (@_simmy_) discuss Whop and EasyA. Started by 25-year-olds Jack Sharkey, Steven Schwartz, and Cameron Zoub - Whop is "Etsy for Digital Products" - and has raised $17M from investors like Peter Thiel and James Harden. The platform has facilitated $300M of transactions for software tools, community memberships, and courses developed by an army of young hustlers pushing internet products. Next up is EasyA, a mobile app built by brothers Phil and Dom Kwok who are in their mid-twenties, that is best described as "Duolingo for Web3". The app has over 750K users who use it to learn how to build applications on various blockchain platforms like Solana and Polkadot. The startup's unique B2B2C model and hackathon strategy generates millions a year in revenue.
0:00 Intro
1:00 Story Of Whop
19:47 Story of EasyA
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Message Simmy on Twitter: @_simmy_
Our Future Podcast is a production of Morning Brew.