The influencer marketing industry is on track to be worth up to $15 billion by 2022 and now more than ever it’s become clear that being an influencer is a business in its own right.
Danielle Bernstein, also known as WeWoreWhat, started on instagram 10 years ago and has a following of over two million. She has create swimwear and overalls lines and has partnerships with companies like Joe’s Jeans. But her next venture is tech: Her platform Moe Assist is a workflow tool specifically made with influencers in mind. Bernstein recently completed a round of seed funding from private investors including Rebecca Minkoff and raised $1.2 million for Moe Assist.
“Moe is a project management platform that we built to satisfy the specific needs of an influencer’s workflow...it really is something that we built to solve the pain points of an industry thats still so new and sort of undefined” Bernstein told Yahoo Finance’s The Final Round.
The platform streamlines the process of working with brands. Users can manage their campaigns, speak directly with brands and get feedback, as well as send invoices and receive payments.
Instagram (FB) has been testing hiding the amount of likes on posts and has started to roll out the early stages of the feature to some select users. The move is an effort to help users feel less pressure when deciding what to post. But, it has also raised questions about how it will impact influencers, many of whom rely on likes as a metric to negotiate brand and sponsorship deals.
“For someone like me who has been doing this for so long and has sort of been at the forefront of the influencer industry it won’t affect my business with brands...I think that for up-and-coming influencers and new influencers it might affect them a little bit, but overall removing the likes will be a good test for mental health,” Bernstein said.
However, Bernstein said her followers won’t find her on social media powerhouse TikTok anytime soon: “I did a poll and asked my instagram followers if they would follow me if I went on that and only 20% said that they would so it doesn’t make sense to do it.”
Sara Dramer is an associate producer at Yahoo Finance. Follow her on Twitter @saradramer