TECHCRUNCH, 25th September 2017: Picfair, the London-based photo marketplace founded by ex-journalist Benji Lanyado, has raised £1.5 million in new funding — capital it plans to use to market its “fair trade photography” proposition to the plethora of companies that need authentic photo content.
These include publishers, creative agencies, and, with the huge rise in so-called content marketing, SMEs and corporates. However, rather than spend a ton of money on paid-for online marketing, Lanyado says the plan is to “weaponise” the marketplace’s 25,000 or so photographers, who, he believes, are best placed to spread awareness of Picfair and are already doing so.
Specifically, he says many of Picfair’s photographers — who range from smartphone photographers to professionals, as anyone can upload their work to the platform — already share their Picfair-hosted photo listings on social media or embed a link to the marketplace on their own portfolio sites, in a bid to point buyers away from industry behemoths, such as Getty and Shutterstock, and to Picfair. That’s because Picfair lets photographers set their own prices and takes a much smaller 20 per cent cut on each photo sold.
Now the startup wants to add a further incentive in the form of affiliate revenue, thus giving photographers an additional 10 per cent on every photo they sell direct. It is also developing tools to make embedding a Picfair buy button and other promotional materials much easier.
“Picfair’s growth among photographers has been almost exclusively organic, all through word of mouth” Lanyado tells me. “We’re the only place a photographer can set their own license prices, anywhere. That’s crazy but it’s true. Instead, the huge