GetCraft CEO Patrick Searle Says the Company Has Paused its Operations (Temporarily)
When my friend told me she would do an internship for no pay, I almost slapped her right then.
Because it is only right that you get paid for your work—and not just “with experience.”
Someone should drop that note to the creator agency GetCraft because many influencers who have worked with them have yet to be paid.
Their CEO has just said that the company has paused its operations because a third-party investor with a controlling ownership stake ran into financial issues.
Here’s how it all started.
Singaporean Creator Chrysan Lee Left Unpaid for Years
In an Instagram Reel posted on 17 August 2023, influencer Chrysan Lee outlined her entire saga with the creative agency, complete with a full timeline of details.
Although she censored the name of the CEO and the company in her reel, it was clear to many in the comments who she was referring to.
She addressed “The CEO” directly, stating that “he owes lots of creators and agencies money,” some of whom are also her friends.
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According to Ms Lee, she has worked with them on “various projects since 2021”, but even as the weeks passed, she did not receive any payment nor any news on any front.
Her client (GetCraft is just the agency, kind of like the “middleman”) even emailed her, telling her they had already paid GetCraft.
She then qualified that the onus should not be on the clients in the first place because “the agency is responsible for paying the creators.”
Ms Lee even stated that she had emailed Mr Searle himself directly, but the radio silence persisted.
Where on earth did GetCraft’s folks learn their ghosting skills from? One of my situationships?
At the end of the reel, Ms Lee made a plea to Mr Searle and the company that even if they don’t pay the creators, they should at the very least contact the creators, explain their situation and apologise – even though “an apology won’t get [her] money back.”
Many Other Creators Spoke Out For Being Unpaid As Well
Many other influencers flooded the comments, stating they were also in the same plight.
Benjamin Toh, also known as @typicalben, stated that GetCraft did not pay him for “four campaigns that [he] did through them in 2021 & 2022 even when all the clients already paid them.”
Ang Chiew Ting, better known online as BongQiuQiu, mentioned that she even tried tagging on their socials and that her assistant emailed Mr Searle with no responses.
Jin Lim, one of Malaysia’s pioneer YouTube content creators, also known as @jinnyboy, also said that this impact stretched to our neighbouring creators as they owe many Malaysian creators money.
GetCraft’s Troubles Due to Third-Party Investor
Following this slew of call-outs, GetCraft’s British CEO, Patrick Searle, has since stated that the cause of this debacle was due to a third-party investor.
The company has temporarily halted its operations in the offices located in Singapore, Malaysia, and the Philippines due to unforeseen financial complications encountered by the third-party investor who holds a controlling ownership stake in GetCraft.
Searle said that in April 2022, they had successfully finalized a deal with a third-party investor, granting them a significant ownership stake in GetCraft.
However, the investor postponed the final monetary transfer to the business, even though all necessary paperwork had been completed. Searle conveyed that the investor had encountered financial difficulties while attempting to transfer their funds into Singapore, which was the primary cause of the delay.
Despite these challenges, the investor assured GetCraft that they remained committed to honoring and completing their investment, a reassurance that prevented GetCraft from nullifying the agreement.
Initially, the investor had pledged to finalize the payments in several stages, including September 2022, November 2022, followed by January 2023, March 2023, and ultimately, July 2023. Despite these assurances, no progress has been observed, causing significant disruptions in the company’s cash flow management.
Furthermore, Searle highlighted that this delay has not only strained their financial resources but has also generated considerable frustration among their creative partners (i.e. the influencers).
These partners had anticipated utilizing a portion of the investment funds to settle outstanding payments.
Nevertheless, the investor recently guaranteed a final transfer of funds by the end of September 2023. Searle emphasized that the company intends to prioritize the payment of all creators to whom they owe money as soon as the funds are received.
The Straits Times reported an interview with a former GetCraft employee who wished to remain anonymous. The individual estimated that the company currently owes content creators in Malaysia and Singapore a substantial six-figure sum, highlighting the gravity of the financial strain the company is experiencing.
What’s interesting is that their website boasts their company’s secure and early payment tools, so we can all agree that this is a tremendous dramatic irony.
Hopefully, the creators can be paid soon—but we’ll just have to wait until “late September 2023” to find out.
Watch this for a complete summary of what REALLY happened to Qoo10, and why it's like a K-drama:
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