BrewDog founder James Watt says he asked his girlfriend Georgia Toffolo for advice as he developed his new influencer market venture, a month after stepping down as CEO of the craft beer giant.
On Monday, the entrepreneur announced plans for Social Tip, a new app platform that he says is designed to turn regular consumers into influencers.
The company will ensure that Brits who post on social media about brands they like and who are affiliated with Social Tip will be rewarded with money based on the level of engagement.
Mr Watt, who has remained an advisor and non-executive director at BrewDog, said he spoke to the former Made in Chelsea star and influencer during the formation of the new company.
He claims that BrewDog has largely “grown by word of mouth” and believes Social Tip will allow companies to grow their audiences in a similar way.
Mr Watt said: ‘The companies we are speaking to are very excited about the prospect of this.
‘We’re going to market ourselves from day one so that people see the opportunity to monetize their posts, but companies will also want their customers to be aware of this, aware of the opportunity to share their experiences and be to benefit from at the same time.’
Click here to change the format of this module
Mr Watt said the economics of using influencers have “changed hugely” for companies, suggesting they can get more value from rewarding ordinary people who use and have paid for their products.
“On a macro level, many major influencers are now not offering companies the returns they did a few years ago,” he said.
‘What people are doing is changing and people are looking for something more authentic.
“We don’t think there’s anything more authentic than customers actually using your products and encouraging them to spread the word.
“Yes, they have smaller individual followers, but there is more benefit to having hundreds than spending the same amount on one big name.”
The company said it already works with dozens of brands, including Huel, PureGym and Dash water.
Mr Watt will lead the company alongside Thomas Matecki, former chief technology officer of fintech company Zilch, and Georgia Lee, former director of food delivery company Supper.
Social Tip will officially launch and be available for download in the summer.
Mr Watt, who has stepped down from the helm of BrewDog after 17 years, has also invested in ’15 to 20′ start-up companies, including last week leading a £500,000 funding round for soft drink maker Living Things.
He handed over control of BrewDog to Chief Operating Officer James Arrow, but still has a non-executive role as ‘captain and co-founder’ in the company and retains his 21 percent stake in the company.
The Aberdeen-born businessman started his own brewery in 2007 at the age of 24 with co-founder Martin Dickie on an industrial estate. They chose the name because Mr. Watt’s father, Jim, had recently gotten a puppy.
He came from a fishing family and helped his father on his fishing boat in the North Sea. On his LinkedIn profile he claims to be a ‘fully qualified deep sea captain’.
Click here to change the format of this module
He graduated from the University of Edinburgh with a degree in law and economics. After finding a job as a trainee lawyer, he quit after two weeks – labeling ‘conformity’ as ‘painful at best’ – and started BrewDog with Mr Dickie three years later.
The business struggled initially but took off when Tesco placed an order to sell its beer nationwide after about six months.
In 2014, Mr Watt won the Great British Entrepreneur of the Year, and in 2016 both he and Mr Dickie were awarded MBEs.
The pair grew up as best friends and became housemates when they both lived in Edinburgh.
Mr Watt, who is divorced and has two daughters, has been the face of the company since its inception.
But his tenure has been marred by controversy in recent years, with the company accused in an open letter by former employees in 2021 of having a “culture of fear” within the company, with a “toxic attitude” towards junior staff.
He later admitted to being “too intense and demanding” amid a row over workplace culture, where he was accused of inappropriate behavior and abusing his power.
Speaking to Steven Bartlett on the Diary of a CEO podcast about his leadership at the company, he admitted that he previously pushed people “too far” because of his “high standards.”
But the CEO – whose company has been accused of having a “rotten culture” – said his actions were carried out with “100 percent good intentions”.
More than 15 former employees previously spoke out against Mr Watt, with some claiming he made female bartenders feel ‘uncomfortable’ and ‘powerless’.
Mr Watt has said the allegations are false and denied any inappropriate conduct.
It was reported last year that he sought specialist help after being described as ‘semi-autistic’ following the allegations.
He was diagnosed with ADHD – which makes people restless and impulsive – and Asperger’s syndrome, a form of autism.
Mr Watt has been in a relationship with Ms Toffolo, 29, since the summer of 2023 after being set up on a blind date by a friend.
Ms Toffolo – known to her friends as Toff – admitted she hopes her boyfriend, Mr Watt, will be ‘the one’.
Toff said, “I’d love for him to be the one, but hey, so far so good. Don’t know. It’s still very early. But we are really happy.
“James hit a wall on our first date, which was really funny. But I think I knew [how strong their connection was] from the second date.
“I mean, it was just classic James and me. The first date was stereotypical, a really good time, I knew I really liked him, great.’