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Merch company Fanjoy, which reportedly owes money to several creators, has filed for bankruptcy

Creator economy company Fanjoy has encountered some tough times. The nine-year-old startup, which partners with creators to launch merchandising initiatives, has filed for bankruptcy.

According to Insider, which reviewed Fanjoy’s Chapter 11 filing, the merch firm has between 100 and 199 creditors. That list includes several high-profile creators, including TikTok star Elyse Myers and Dream SMP progenitor GeorgeNotFound. Myers is reportedly owed $86,000 for her collaboration with Fanjoy, and GeorgeNotFound is owed $94,500.

“We’ve filed for Chapter 11 to restructure and strengthen our business strategically,” Fanjoy CEO Chris Vaccarino told Insider. “This decision aligns with our relentless commitment to supporting our creators. We’re optimistic about the future and will share more as we embark on this new chapter.”

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In the late 2010s and early 2020s, Fanjoy made a name for itself by partnering with influencers like Jake Paul, Addison Rae, and (regrettably) Colleen Ballinger. The firm helped its creator partners advance their commercial operations; along the way, it partnered with retail brands like Urban Outfitters

and Mad Engine.

Fanjoy’s focus on digital sales gave it a boost during the early days of the COVID-19 pandemic, but like many tech companies, it has struggled to maintain that momentum. The shifting nature of creator merch has also changed the company’s fortunes. It’s easier than ever for creators to set up their own stores, which makes partnerships with third parties like Fanjoy into risky propositions.

Thanks in part to those factors, the past 12 months have been a difficult time for many ecommerce companies. Vending platform Spring sold to Amaze late last year, and YouTube shuttered subsidiary platform Simsim in March. The creator economy may still be booming, but Fanjoy’s bankruptcy provides a cautionary tale for firms in that space.

Fanjoy made its Chapter 11 filing in Georgia Northern Bankruptcy Court.

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Published by
Sam Gutelle

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