A note to creators about recent bank failures

We wanted to take a moment to address the recent failure of Silicon Valley Bank (SVB) and Signature Bank, and any implications for our creators. To say it upfront – if you work with CafeMedia, your payments are secure and guaranteed.

Over the weekend, you likely saw the news that the White House, Treasury Department, The Federal Reserve, and the FDIC stepped in to guarantee failed bank deposits. It was an important step to calm fears worldwide and remove systemic risk from the banking system.

While we didn’t have a banking relationship with SVB or Signature, this has had wide-reaching implications for many companies and for the whole of our industry. You may have seen that Etsy was forced to delay processing seller payments as a result.

Thankfully, we already had measures in place to protect our creators from this type of risk, and have taken further steps to ensure our ability to operate on behalf of our creators in challenging circumstances – including the potential of future bank failures or other economic disruptions.

We guarantee creator payments whether we get paid or not. We’ll continue to do so, with no hidden fees or withholdings.

As always, we submitted March payments on schedule, and our creators can expect to receive payments on the timeline typically associated with their payment method.

We’ve carefully structured the financial foundation of our company and partnered with world-class investors so we can weather storms like these and continue to help the best creators on the web succeed and thrive for the long haul!