Backed by $7 million in new funding, Gumroad turns micropayments into an even quicker-and-easier process
A quick Q&A with Gumroad founder and CEO Sahil Lavingia. The San Francisco–based company was founded in September of 2011 and recently raised $7 million in follow-on Seed funding. Investors include Kleiner Perkins and CrunchFund.
SUB: Please describe what Gumroad is, and the value proposition you bring to online content sales and distribution.
Lavingia: Gumroad is a way to sell like you share. It should be just as easy, fast and simple. Most importantly, it should feel and happen just like sharing.
SUB: Who are your target users?
Lavingia: Everyone who creates and contributes meaningful things to society.
SUB: Who do you consider to be your competition?
Lavingia: The fear factor associated with selling something you’ve created yourself, is by far number one.
SUB: What differentiates Gumroad from the competition?
Lavingia: We really care about the product and the implications of a great one.
SUB: When was the company founded and what were the first steps you took in establishing it?
Lavingia: September 2011, and forming it as a company.
SUB: What was the inspiration behind the idea for Gumroad? Was there an ‘aha’ moment, or was the idea more gradual in developing?
Lavingia: I wanted to sell an icon I had designed and realized it was really difficult.
SUB: What have the most significant obstacles been so far to building the company?
Lavingia: What to prioritize.
SUB: You just raised $7 million in new funding. What are your plans for the funds?
SUB: Do you plan to raise more outside funding in the near future?
Lavingia: Nope, not for a while.
SUB: What are your goals for Gumroad over the next year or so?
Lavingia: Get a significant part of the way to our goal to re-empower every creative individual on the planet.
Gumroad – www.gumroad.com