Leaders in the Affiliate Space Raised Suspicions About Phia Long Before Cookie Stuffing Revelation

In the months before Phoebe Gates’ buzzy startup was found to be siphoning commissions, competitors suspected Phia may have played a part in lagging revenues.

BY SAM BLUM, SENIOR WRITER @SAMMBLUM

Phia co-founder Phoebe Gates. Illustration: Inc; Photo: Adobe Stock, Getty Image

For Locker, an affiliate shopping tool founded by former Goldman Sachs real estate analyst Kristine Locker, the post-holiday season always fosters a lull in sales. Usually, around the second quarter of the following year, revenues pick back up. However, as June 2026 rolled around, sales continued to lag, prompting Locker and her team to investigate. 

A similar thing happened this year with SecondSense, a luxury handbag reseller headquartered in San Francisco. Chris Lucas, SecondSense’s founder and CEO, says revenue from affiliate sales commissions had declined over June........

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