Backed by $7 million in new funding, Gumroad turns micropayments into an even quicker-and-easier process

By Editor May 30, 2012

Gumroad_logoA 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?

Lavingia: Hiring.

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.

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