Yeay GmbH runs the YEAY app, a platform where a global network of predominantly Generation Z and Millennial users share honest recommendation videos and are rewarded for engagement. The app has been live in-market since January 2017. Yeay’s product aims to convert word-of-mouth recommendations into a monetizable, scalable marketing channel for brands, content creators, publishers and social networks. The company is partnering with the WOM Protocol and will be the initial platform to integrate the protocol immediately following a Dutch Auction Token Generation Event planned for Q1 2019. Olymp Capital has invested in Yeay and will work with WOM Token Ltd. to deliver a monetization platform for recommendations; other backers include Advanced Blockchain AG, Nakamoto and West. YEAY has received $7 million in seed funding to date from investors including the former COO of Airbnb, the former CEO of Deutsche Telekom, Grazia Equity, and Mountain Partners. Yeay is a mobile app aimed at 12–18-year-olds (13–18 in the U.S.) that uses short, Snapchat-style video stories as its primary medium for peer-to-peer commerce and creator-led brand content. The app emphasizes entrepreneurship and creator culture, allowing users to make quick videos embellished with text and lenses to sell their own items or create content on behalf of brands. Yeay has been in beta since last year and reports roughly 500,000 downloads, 100,000 registered users and about $2 million in merchandise listed on the platform. The service is currently free to list and sell and is pre-revenue; payments are based on PayPal today while the company explores prepay systems or digital currencies. Logistics for sold items are left to buyers and sellers at present, and Yeay is beginning to work with brands on user-generated brand challenges as an early monetization path. Melanie Mohr is CEO and the company positions itself as a new e-commerce channel tailored to Gen Z’s preferences and distrust of traditional influencer marketing.

Total raised

$5M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2017