Exclusive: OWM lets creators trade influence for equity
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Creators and businesses can now sign and manage equity deals through a new platform called OWM, CEO Jeff Frommer exclusively tells Axios.
Why it matters: The launch underscores the growing value of influencer marketing and aims to expand creators' opportunities from one-off sponsorship to ownership stakes.
How it works: OWM's platform matches creators and startups through an AI agent named Andy, which identifies talent based on subject matter expertise, online and offline influence and growth trajectory.
- The platform has more than 5,000 creators and hundreds of companies. Agencies onboard include VaynerSports, Underscore Talent, Wasserman, Made by All, UnderCurrent Talent, Select Management Group and The Creator Society.
- Creators and startups sign a standardized agreement, OWMA, and can track deal progress through a dashboard.
Catch up quick: Frommer was inspired to start OWM after selling creative studio Malka Media to MoneyLion in 2021. Malka managed a creator network and helped produce content like Mike Tyson's podcast.
- Brands sometimes offered equity in lieu of fees, but Frommer says they didn't pursue them because payouts were complex. Frommer says he was also motivated by the rise of NIL deals and his own angel investing.
Zoom in: Dan Levitt, senior vice president, creators at talent agency Wasserman and an OWM adviser, says equity deals can be lucrative for talent but have been difficult to execute.
- "Maybe this is more upside for our talent in five years, but it's a giant headache now. We're a very transactional business, so we want to do the best for our client, but we're also constrained with time," Levitt says.
- Levitt says OWM reduces friction with templated agreements and management tools.
Follow the money: OWM raised $1 million from ACQ Ventures, Avalanche VC, Firsthand Ventures, HotStart VC and Spacestation along with creators like Corporate Natalie, Corporate Bro and Victoria Garrick Browne.
- Advisers include VaynerSports CEO AJ Vaynerchuk, Meta's Adam Berger, investor Peter Hollens, RockWater founder Chris Erwin, Reach CEO Dylan Huey and Detroit Pistons forward Duncan Robinson.
The big picture: Frommer says he views OWM as infrastructure for a new ownership model where creators are investors, advisers and even founders.
- "Today's most valuable currency is influence," Frommer says. "[Creators] don't have to reach into their pocket to get some upside and participation. They should be able to reach into their audience."
- Some creators have pursued this strategy Alix Earle invested in prebiotic soda brand Poppi. Others launched their own products like MrBeast with Feastables, Jake Paul with W and Alex Cooper with Unwell.
- "Equity is complicated. It is expensive, and it takes a lot of time, and it's just why only a small class of people have been able to access it," Frommer says. "I want to democratize equity."
