By CultureBanx Team
- SPILL brings in serial investor and actress Kerry Washington into its most recent funding that now tops $5M
- The global social networking app market size is expected to see significant growth over the coming years and reach $179B by 2029
Culture-focused social media has emerged as a powerful force, reshaping the digital landscape and giving voice to underrepresented communities. That’s where social media app SPILL, a culturally relevant fun, safe, rewarding way for people to connect online through visual conversations, and its co-founder Alphonzo “Phonz” Terrell, is setting his platform apart. SPILL is using its latest capital injection from new investors bringing it’s total funding to $5 million, to further show how cultural moments are leveraged to boost engagement, advertising revenue and inclusivity.
Why This Matters: Few cultural forces have shaped the way we interact online more than the Black community, queer community and other growth audiences around the world who create the lexicon on what’s trending across social media. Investors are paying attention to this because as Terrell told CultureBanx, he went from getting fired by Elon Musk at X (formerly Twitter) in October 2022, to securing $3 million in funding for SPILL in December 2022. In just one short year since the app launch, SPILL has brought in angel investors and venture capital funds including MaC Venture Capital and Kapor Center, with an extension from Collide Capital to its cap table.
SPILL has gained traction by prioritizing inclusivity, cultural relevance, and economic empowerment. Social media plays a pivotal role in reaching this audience. TikTok, Instagram, and X are overrepresented within the African American community, with 41% turning to social media for new ideas.
Timing for Terrell’s company couldn’t have been more opportune, as diverse users have been migrating from platforms like X, in search of alternatives that better represent their interests and values. Social media users seem to be in search of a safe environment where they can discuss societal issues and share content amongst a diverse community.
“We saw that we could better protect and credit the culture drivers – the Black women, queer community – the people that make the trends but are not adequately recognized for them”, said Terrell to CultureBanx.
Now, SPILL has become a vital platform for discovering trends like “FoodieSpill”, “MusicSpill”, and “ArtSpill”. The app has attracted an inclusive user base including celebrities, influencers, and notable brand partnership, according to the company.
AdvertisingSPILL: Mordor Intelligence estimates the global social networking app market size is expected to see significant growth over the coming years and reach $179 billion by 2029. SPILL plans to capture a larger share of this market with strong advertiser relationships who are leaning into the platform’s unique value proposition, scrapping typical performance metrics.
“We believe that multicultural is the mainstream, and SPILL has shown that it is brimming with energy, creativity, and the right consumers, even at this early stage,” said Danielle Otero, SVP Global Paid Media & Analytics at Lionsgate.
The rise of Black-owned social media platforms like SPILL represents a significant step towards a more inclusive digital landscape, offering spaces where diverse users can connect, share, and thrive while addressing long-standing issues of representation and economic empowerment. In the Apple App Store, SPILL reached the #1 social media app position last summer, according to the company.
“Connecting people through a love of consuming and creating culture while making it fun, safe and rewarding shouldn’t be an innovative concept, but because other platforms have not centered the needs of our community, they’ve left the opportunity to us,” Terrell said.
What’s Next: Since the emergence of SPILL and its strategic use of cultural moments, new avenues have opened up to engage and empower diverse users. These changes have pushed the social media app to adequately find ways to compensate and protect these communities, highlighting the importance of inclusivity and cultural relevance in the digital sphere.
As we move forward, it’s clear that inclusive platforms will continue to play a crucial role in shaping online discourse and driving social change. SPILL is undeniably a For Us, By Us, platform for the culture, making a profound impact on its users while setting a new standard across the social media landscape.
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