Coil was founded in 2018 to build a better business model for the Web. Coil makes it easy for publishers and creators to monetize their content across the internet, and provides an alternative to advertising and site-by-site subscription models. As Coil Members enjoy content, Coil uses a proposed open web standard called Web Monetization to stream micropayments to creators in real time. In 2019, Coil, in collaboration with Mozilla and Creative Commons, launched the $100 million Grant for the Web to boost open, fair and inclusive standards and innovation in Web Monetization. Coil also invested $20 million in Imgur, the community-powered entertainment platform reaching 300 million people each month.