The Venture Codex

Participated · Seed · May 2021

Fave is a social marketplace and community app that lets superfans connect with like-minded music fans, share content and compete for status through its Fan Verification system. Users earn points based on streaming activity, concert attendance, proof of meeting artists and other fan behaviors, unlocking perks and experiences provided by artists and brand partners. The app includes a marketplace for reselling concert tickets and selling fan-made merch, where Fave currently takes a 2.4% transaction fee (it has tested 5%, 10% and 0% previously) and artists can opt to earn 10% from fans' sales. Fave leverages generative AI and a proprietary predictive fan intelligence product to provide artist teams with detailed fan data and outreach tools, and it already allows artist teams to contact fans directly. More than 50,000 fans have joined Fave and the company has a reported valuation of $15 million; it is still in beta with an official launch planned for the end of 2023. The company plans to use new funding to deepen its artist tools and expand beyond music into movie/TV, content creators, sports and fashion. Founder and CEO Jacquelle Amankonah Horton previously worked at Google and YouTube. Fave is a fandom-centric social platform and marketplace that connects superfans and creators within dedicated fandom communities, beginning with Swifties. The product lets fans connect, create content, and buy and sell fan-themed merchandise and artwork in a marketplace where Fave takes a 10% transaction fee; creators and Fave can also earn via advertising. The company launched into public beta alongside the announcement of a $2.2 million seed round. Founder Jacquelle Amankonah Horton built the product to give superfans richer ways to express adoration and to provide creators another revenue stream. Fave’s go-to-market focuses on fans and onboarding prominent influencers within each fandom to attract users and foster community. Features include creator-run contests, points-based rewards for competitive superfans, and a marketplace where points can be spent; the team is actively listening to users to determine which fandoms to build next.