Gen Z entrepreneur Steven Schwartz builds $1.6 billion platform Whop

Steven Schwartz, a Gen Z entrepreneur with a global upbringing, has built a $1.6 billion company that is reshaping how creators monetise their online audiences. His platform, Whop, has not only transformed digital entrepreneurship but also reportedly created over 650 millionaires in the process.

A Global Childhood and Early Entrepreneurial Spirit
Born into a military family with medical ties, Schwartz’s childhood was anything but conventional. Moving frequently, he lived in places like China, Singapore, Honolulu, Chicago, and Springfield, Illinois. This nomadic lifestyle shaped his entrepreneurial instincts, as he sought out ways to make money in every environment. In China, he sold bottled water on the streets, while in the United States, he worked as a hockey referee.

By the age of 13, Schwartz was already venturing into the digital world, building and selling iOS applications from home. One of his early projects involved creating software to help users secure limited-release sneakers online, a competitive and fast-moving niche. This experience laid the groundwork for his later ventures.

From NYU to Founding Whop
Schwartz’s academic journey took him to NYU’s Stern School of Business, where he balanced studies with industry exposure. During an internship at Accenture in Singapore, he worked on automation projects like chatbots for logistics companies. This experience gave him insights into the contrast between corporate infrastructure and the agility of small-scale digital projects.

After graduating in 2021, Schwartz officially launched Whop, a layered digital marketplace designed to help creators monetise their audiences through courses, communities, tools, and niche digital products. Unlike traditional platforms, Whop focuses on enabling individuals to build multiple income streams by targeting micro-niches rather than relying on celebrity influence.

Whop’s Rise as a Global Platform
Whop quickly gained traction, attracting creators who were previously selling on scattered platforms. The platform’s unique approach allows users to sell a wide range of digital products, from fitness plans and trading groups to software tools and niche coaching setups. This model has enabled some users to scale their side projects into significant income streams.

The company’s growth has been fueled by substantial investments, including a $17 million Series A round led by Insight Partners and a Series B round led by Bain Capital Ventures. In February, Tether invested $200 million, valuing Whop at approximately $1.6 billion. To date, the platform has raised around $272 million in funding.

Empowering Digital Entrepreneurs
Whop’s ecosystem now spans 145 countries, facilitating around $4 billion in annual commerce and generating monthly sales of approximately $300 million. The platform highlights success stories of creators turning occasional sales into six- or seven-figure incomes. According to internal figures, 10 to 15 users achieve $20,000 in earnings daily, with over 650 users reportedly reaching millionaire status.

Schwartz’s journey from selling water bottles as a child to leading a billion-dollar company reflects a broader shift in digital labour. Whop’s success underscores the growing potential of niche online audiences and self-directed digital entrepreneurship.