Peanut is a social networking platform designed specifically for women to connect, share experiences, and seek support on topics like motherhood, fertility, and careers. Founded in 2017 by Michelle Kennedy, Peanut aims to create a safe and inclusive space for meaningful conversations.
Business Operations of Peanut
Table of Contents
Peanut operates as a venture-backed startup that generates revenue through premium memberships, advertising partnerships, and brand collaborations. The platform does not rely on traditional social media ad models but instead focuses on community-driven monetization.
Overview of Peanut
| Aspect | Details |
|---|---|
| Founded By | Michelle Kennedy |
| Founded Year | 2017 |
| Company | Peanut App Ltd. |
| Industry | Social Media, Community Networking |
| Headquarters | United Kingdom |
| Primary Product | Peanut App |
| Business Model | Premium Memberships, Partnerships |
| Competitors | Facebook Groups, Meetup, Bumble BFF |
Peanut’s Revenue and User Growth (2017-2024)
Revenue Growth (2017-2024)
| Year | Revenue (Million $) | Growth (%) |
|---|---|---|
| 2017 | 0.1 | – |
| 2018 | 0.5 | 400% |
| 2019 | 1.5 | 200% |
| 2020 | 3.5 | 133% |
| 2021 | 7.0 | 100% |
| 2022 | 12.0 | 71% |
| 2023 | 18.0 | 50% |
| 2024 | 25.0 | 39% |
User Growth Chart
User Growth Table
| Year | MAUs (Million) | Growth (%) |
|---|---|---|
| 2017 | 0.2 | – |
| 2018 | 1.0 | 400% |
| 2019 | 2.5 | 150% |
| 2020 | 5.0 | 100% |
| 2021 | 9.0 | 80% |
| 2022 | 14.0 | 56% |
| 2023 | 20.0 | 43% |
| 2024 | 28.0 | 40% |
Revenue Distribution of Peanut (%) Chart
Revenue Distribution of Peanut (%) Table
| Revenue Source | Percentage |
|---|---|
| Premium Memberships | 45% |
| Brand Partnerships | 30% |
| Sponsored Content | 20% |
| Miscellaneous | 5% |
Business Model and Features
Peanut operates on a freemium model, offering free access to its core features with potential premium offerings to enhance user experience. The platform enables users to create profiles, join groups based on interests or life stages, participate in community discussions, and engage in live audio conversations through a feature called “Pods.” This multifaceted approach fosters a supportive environment where women can connect over shared experiences and topics.
Funding History
Peanut has secured funding through several investment rounds:
- Seed Round (November 2017): The company raised an undisclosed amount from investors including Sweet Capital, Female Founders Fund, Greycroft Partners, Sound Ventures, New Enterprise Associates, Felix Capital, and Partech Ventures.
- Venture Round (November 2019): Peanut secured $5 million from investors such as Index Ventures, Sweet Capital Limited, Greycroft Partners, Sound Ventures, Female Founders Fund, Felix Capital, and Partech Partners.
- Series A (May 2020): The company raised $12 million in a round led by EQT Ventures, with participation from Index Ventures and Female Founders Fund.
In total, Peanut has raised approximately $17 million across these funding rounds.
Institutional Shareholders
Peanut’s institutional investors include:
- EQT Ventures: Led the Series A funding round in May 2020.
- Index Ventures: Participated in both the Venture Round (November 2019) and Series A (May 2020).
- Female Founders Fund: Invested in the Seed Round (November 2017) and participated in subsequent funding rounds.
- Sweet Capital: Invested during the Seed Round (November 2017) and the Venture Round (November 2019).
- Greycroft Partners: Participated in the Seed Round (November 2017) and the Venture Round (November 2019).
- Sound Ventures: Invested in the Seed Round (November 2017) and the Venture Round (November 2019).
- Felix Capital: Participated in the Seed Round (November 2017) and the Venture Round (November 2019).
- Partech Partners: Invested in the Seed Round (November 2017) and the Venture Round (November 2019).
These investors have played a significant role in supporting Peanut’s mission to create a dedicated social platform for women, fostering connections and providing resources tailored to their unique experiences.
Strategic Direction of Peanut
Key Strategic Goals:
- Community Growth – Expanding the user base through targeted outreach and partnerships.
- Monetization Expansion – Introducing new premium features and revenue streams.
- Technology Development – Enhancing AI-driven content moderation and user engagement tools.
- Global Expansion – Increasing adoption in international markets.
- Brand Collaborations – Strengthening partnerships with relevant brands for community-driven advertising.
Challenges Facing Peanut:
- Market Competition – Competing with larger, established social networks.
- User Retention – Ensuring long-term engagement and meaningful interactions.
- Monetization Balance – Balancing free and paid features to maintain accessibility.
Conclusion
Peanut has positioned itself as a leading social platform for women, fostering connections and support. With a steady increase in user adoption and revenue, the platform continues to grow through strategic innovation and brand collaborations.
Sources:
Peanut App – Wikipedia
Peanut App Funding – Owler
Social network for women, Peanut, raises $12M Series A amid pandemic – TechCrunch
