Creator Equity Deals: What CatGPT's Smooth Media Stake Signals

A sponsored post pays once. Ownership can pay years later - or become a beautifully formatted zero.

That uncomfortable little trade-off is moving into creator management itself.

CatGPT bought in

Cat Goetze, the AI educator known online as CatGPT, has become the first outside shareholder in Smooth Media, the management company that already represents her. She's also joining as a strategic adviser.

The size of her stake wasn't disclosed. Her existing management agreement remains in place, including Smooth's cut of deals it brings her. So, important correction: this isn't simply Goetze swapping sponsorship cash for shares.

She'll advise founders Josh Kaplan and Jenny Rothenberg on services, branding, internal technology and the wider management business. Smooth represents more than 70 creators, grew from nine employees in 2024 to 35, and says revenue has increased 2.5 times year over year since 2024. Axios has the deal details¹. (axios.com¹)

The interesting bit isn't Goetze receiving shares. Big creators have collected equity for years. It's where she received them: inside the company monetizing her career.

Your audience isn't merely "reach." It's distribution. Everyone suddenly remembers this when you stop giving it away cheaply.

Why this matters

Creator advertising in the US was expected to reach $37 billion in 2025, after more than doubling from $13.9 billion in 2021 to $29.5 billion in 2024, according to IAB research². Yet creators usually sit at the campaign end of that money pipe: make video, post video, send invoice, repeat. (iab.com²)

Equity changes the clock. Instead of optimizing for Thursday's upload, both sides have a reason to build products, events, intellectual property and recurring revenue together.

Alix Earle showed the upside with Poppi. Part of her endorsement compensation included equity, so she benefited when PepsiCo completed its $1.95 billion acquisition³ in May 2025. She has since invested in other consumer brands while building Reale Actives. (pepsico.com³)

Lovely when it works. Usually, it won't. Private shares are hard to sell, startups die, and a sexy percentage can shrink through dilution. Equity may also create tax obligations before it creates spendable cash. Fun!

Your next move

Don't start demanding shares from every protein-powder startup in your inbox. First, identify partners where you already influence product decisions, customer language or distribution - not merely impressions.

Then negotiate a hybrid: enough cash to cover the work, plus ownership for the long-term value. Get the percentage, valuation, vesting schedule, dilution rules, deliverables and exit terms in writing.

Finally, bring in a lawyer and tax adviser. If the company won't tolerate basic due diligence, congratulations: you've discovered what your equity is worth early.