Coil
Coil was a San Francisco web monetization platform founded in 2018 that used the Interledger Protocol to stream micropayments from $5/month members to content creators, serving consumers, publishers, and developers. The company discontinued service in March 2023 and transferred Interledger stewardship to the Interledger Foundation.
- Company typePrivate
- Founded2018
- HeadquartersSan Francisco, United States
- Headcount51–100
- GTM typeB2C
- OfferingSoftware
What Coil does
Coil Technologies, Inc. was a San Francisco-based web content monetization company founded in 2018 by Stefan Thomas, the former CTO of Ripple. The company built its platform on the Interledger Protocol (ILP), an open protocol for routing payments across disparate payment networks, to enable streaming micropayments between content consumers and creators as an alternative to advertising and site-by-site subscriptions. Its core product suite comprised the Coil Membership (a $5/month consumer subscription that streamed micropayments in real time to any Web Monetization-enabled site the member visited), the Coil browser extension (compatible with Firefox, Brave, and Puma, with Tor Browser in development) that automatically detected and paid Web Monetization-tagged pages, the open-source Coil Web Monetization WordPress plugin (developed with Pragmatic agency), and Rafiki, an Interledger/Open Payments API suite enabling developers to integrate streaming payments, tips, invoices, and recurring payments. Supporting infrastructure included the Uphold wallet integration (50+ currencies, 35+ countries), the GateHub wallet fallback, and proprietary privacy architecture built on the Privacy Pass cryptographic protocol to prevent Coil from observing member browsing history.
Coil monetized exclusively through consumer subscriptions; creators received payouts in USD (check, ACH, wire) or XRP cryptocurrency with no creator-side fees. Distribution extended to consumers via direct self-serve signup on coil.com, a Samsung Internet Browser OEM integration for Galaxy users, and developer-facing APIs via Rafiki. Strategic capital came primarily from Ripple's Xpring, which granted Coil approximately $262 million in XRP in 2019 to build the creator ecosystem; Coil in turn committed $100 million jointly with Mozilla Foundation and Creative Commons to the Grant for the Web initiative, and made venture equity investments in Imgur ($20M) and Hacker Noon ($1M).
On February 2, 2023, Coil announced the sunset of all products and signed membership sign-ups, formally discontinuing service on March 15, 2023. Coil transferred stewardship of the Interledger Protocol to the newly created neutral Interledger Foundation, with founder Stefan Thomas continuing as Chairperson of the Foundation's Board. The company is now in closed operating status, with the Interledger standard and Web Monetization ecosystem continuing under the Foundation rather than Coil.
Coil firmographics
Firmographics- Name
- Coil
- Legal name
- Coil Technologies, Inc.
- Website
- https://coil.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Closed
- Headcount range
- 51–100 employees
- Short description
- Coil was a San Francisco web monetization platform founded in 2018 that used the Interledger Protocol to stream micropayments from $5/month members to content creators, serving consumers, publishers, and developers. The company discontinued service in March 2023 and transferred Interledger stewardship to the Interledger Foundation.
- Ownership category
- akta.pro rank
Coil industry classification
Industry- Product category
- Web Monetization Platform
- NAICS
- Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (51621), Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (5162)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Micropayments & Streaming Payments (Crypto) (FSADAIAM)
- akta.pro secondary industries
- Billing, Payments & Subscription Management (MPAHAJAC), Billing, Subscription & Entitlement Management (IAP orchestration) (MPAFAJAC)
Keywords
Where Coil is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Coil business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Coil Membership Subscription: Monthly subscription at $5/month charged to consumers. Members gain access to web monetized content with streaming micropayments flowing to creators in real-time as they consume content. Membership automatically cancels when service discontinues.
- Creator Platform Services: Free platform for creators to monetize content; no subscription or membership fees for creators. Creators receive payouts via US dollar payments (check, ACH, wire) or cryptocurrency XRP through wallet providers like Uphold.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Coil Membership - $5/month consumer subscription |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Coil product offering
Product offeringCore offering
Coil operated a web monetization platform built on the Interledger Protocol (ILP) that enabled streaming micropayments between consumers and content creators in real time. Consumers paid a flat $5 monthly membership and could stream fractions of a cent to any participating website, video, or stream, while content creators and publishers could plug in via plugins, the Coil browser extension, or the Rafiki API suite to receive continuous revenue without ads.
Product overview
Coil was a web monetization platform built around the Interledger Protocol, consisting of a core subscription-based platform for streaming micropayments to content creators, accompanied by the Coil Extension browser add-on and WordPress plugin. The platform enabled direct creator-to-fan payments as an alternative to advertising, supporting writers, video creators, podcasters, musicians, and artists. Additional modules included Rafiki (wallet APIs), Probabilistic Revenue Sharing, and a Twitch Bot integration. The service was discontinued in February 2023, with Interledger stewardship transferred to the Interledger Foundation.
Differentiator
Problem solved
Functional benefit
Products and services
- Coil Membership
- Coil Browser Extension
- Coil Web Monetization WordPress Plugin
- Rafiki API Suite
Quantifiable outcome
- Coil partnered with Mozilla and Creative Commons to launch $100 million Grant for the Web to fund projects proposing alternatives to ad-tracking business model
- +2 more outcomes
Companies that use Coil
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles4 records
Coil technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature6 records
Coil partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered flagship, minor and core.
- Interledger FoundationflagshipCoil transferred stewardship of Interledger technology to the neutral Interledger Foundation. Founder Stefan Thomas continues as Chairperson of the Foundation's Board. Coil sunsetted its products to pass the torch for open protocol development.
- Open Web DocsminorCoil supported Open Web Docs, a collective project supporting technical writers for long-term maintenance of web platform technology documentation that is open and inclusive.
- UpholdcoreUphold became Coil's wallet provider enabling creator payouts in over 50 currencies with bank connectivity in more than 35 countries. U.S. creators can access Uphold's debit card feature for direct payment loading.
- PragmaticcoreWordPress agency Pragmatic developed the Coil Web Monetization plugin in partnership, enabling publishers to monetize WordPress sites with a few clicks.
- Mojaloop FoundationminorCoil was a founding sponsor of the Mojaloop Foundation alongside Bill & Melinda Gates Foundation, Google, Omidyar Network, Rockefeller Foundation, and ModusBox to advance open-source financial inclusion software.
- Internet ArchiveminorCoil hosted a YouTube Live conversation with Internet Archive featuring authors of 'Chokepoint Capitalism' discussing Big Tech, Big Content, and sustainable creative ecosystems.
- Samsung InternetcoreCoil integration in Samsung Internet Browser allows Galaxy users to enable streaming micropayments to support web monetized creators directly from their browser.
- OutVoicecoreCoil partnered with OutVoice to promote more efficient payment solutions for freelancers. OutVoice uses Coil's infrastructure to enable faster payments to freelance content creators, reportedly erasing 'hundreds of years of lag time between freelance content creators and their paycheck' during beta.
- Mozilla FoundationflagshipCoil partnered with Mozilla and Creative Commons to launch the $100 million Grant for the Web initiative to boost open, fair, and inclusive standards and innovation in Web Monetization. Coil CEO Stefan Thomas participated in MozFest 2022 as presenting sponsor discussing Web Monetization benefits.
- Creative CommonsflagshipJoint initiative with Coil and Mozilla for $100M Grant for the Web program seeking alternative online business models to advertising for supporting creators on the open web.
Scale indicators7 records
Recent moves7 records
Expansion highlights4 records
Coil competitors and assessment
Company assessmentBroad incumbents
- Twitch: Twitch enables creator monetization through subscriptions, Bits (virtual currency tips), and ads. Coil even built a Twitch bot for its members before discontinuing it, showing direct competition at the intersection of streaming content and micropayments.
- Substack: Substack provides newsletter creators with paid subscription infrastructure, taking a cut of subscription revenue. Like Coil, it addresses creator monetization without advertising, but operates as a centralized newsletter platform rather than an open-web micropayment standard.
- Patreon: Patreon is the dominant creator subscription platform, allowing fans to pay creators monthly for exclusive content. While not crypto-based, it addresses the same core problem Coil targeted (direct creator-to-fan payments without advertising) and represents the incumbent alternative to Web Monetization for sustainable creator income.
- YouTube (Super Chat/Thanks): YouTube's Super Chat, Super Thanks, and channel memberships features enable direct viewer payments to creators during livestreams and on videos. Comparable to Coil's Twitch bot integration and overall creator-payment approach, but operating as a closed platform feature rather than an open web standard.
Others
- Stripe: Stripe is Coil's payment processor for subscription billing and represents the broader payments infrastructure layer that Coil's micropayment system sought to complement (or disrupt) for sub-cent transactions. Comparable as adjacent payments infrastructure serving the same creator-economy market.
Direct peers
- Buy Me a Coffee: Buy Me a Coffee enables creators to receive one-time tips and small recurring payments from supporters with low friction. It is comparable to Coil's micro-donation value proposition for individual creators, though operating on traditional payment rails rather than crypto-based streaming micropayments.
- Brave: Brave is the most direct peer to Coil, operating a privacy-focused browser with integrated Basic Attention Token (BAT) that enables users to automatically pay creators via micropayments as they consume content. Both companies pursued crypto-based streaming micropayments to monetize the open web, with similar browser-extension-based distribution models.
- Flattr: Flattr is a micropayments service for online content that pools user subscriptions and distributes payments to creators based on reading behavior. It is one of the closest historical analogs to Coil's streaming micropayment model, sharing the same vision of frictionless, open-web creator compensation.
Emerging players
- LBRY/Odysee: Odysee (built on LBRY blockchain) is a decentralized content platform where creators earn crypto tokens (LBC) based on views. It represents an alternative blockchain-based approach to creator monetization that competes with Coil's Interledger-based model for crypto-native creator audiences.
- GitHub Sponsors: GitHub Sponsors enables direct funding of open-source developers and is comparable to Coil's creator-payment mission but specialized for software developers. Both platforms attempt to enable direct supporter-to-creator payments outside of traditional advertising models.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Coil social profiles
Digital presenceCoil financial estimates
Financial estimateRevenue estimate
Valuation estimate
Coil leadership team
Management profileNumber of profiles
Profiles5 records
Coil funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Coil M&A and investment
M&A and investmentM&A
Investments12 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Coil
What does Coil do?
Coil operated a web monetization platform built on the Interledger Protocol (ILP) that enabled streaming micropayments between consumers and content creators in real time. Consumers paid a flat $5 monthly membership and could stream fractions of a cent to any participating website, video, or stream, while content creators and publishers could plug in via plugins, the Coil browser extension, or the Rafiki API suite to receive continuous revenue without ads.
Is Coil a public or private company?
Coil is a private company. It is classified as venture growth investor backed and is currently closed.
When was Coil founded?
Coil was founded in 2018. It employs 51 to 100 people.
Where is Coil based?
Coil is headquartered in San Francisco, United States, in the North America region.
How does Coil make money?
Two revenue lines are on record. Coil Membership Subscription is the primary driver. The others are creator Platform Services.
Who are Coil's main competitors?
Broad incumbents on record are Twitch, Substack, Patreon and YouTube (Super Chat/Thanks). Stripe is listed as an others. Direct peers are Buy Me a Coffee, Brave and Flattr. Emerging players are LBRY/Odysee and GitHub Sponsors.
Does Coil have an API?
Yes. Coil offers a Web Monetization API that enables content creators to receive streaming micropayments. The API is used by the Coil Extension and Partner Sign In and Linking features. The Coil API Terms of Use governs access to the API. Partners use access tokens to identify users and stream payments on their behalf.
What industry is Coil in?
Coil's product category is Web Monetization Platform. Its primary akta.pro industry code is FSADAIAM, Micropayments & Streaming Payments (Crypto), with a secondary code of MPAHAJAC, Billing, Payments & Subscription Management. Its NAICS code is 51621 and its SIC code is 6200.