Cameo, the celebrity video site you are most likely acquainted with if you’ve celebrated a birthday in the last 3 years, announced this morning that it’s raised a $100M Series C. The spherical, which was led by Jonathan Turner with e.ventures, places the site’s worth at just north of $1 billion.
Cameo has been developing a fantastic deal of steam in the latest years, but the service is amongst these that managed to get a main strengthen amid the pandemic, as stars and normals alike out of the blue discovered by themselves with a whole lot additional time on their hands.
“The pandemic set further worry on the previously unstable organization versions supporting expertise throughout athletics and entertainment ecosystems,” CEO Steven Galanis explained in a Medium write-up tied to the information. “It catalyzed a large shift in recognition and popular adoption of immediate-to-admirer products, which has, in turn, established a new basis for admirer engagement. We exist in an entirely diverse planet now — one in which talent actually want to connect far more deeply with their followers, and admirers count on unparalleled obtain to the expertise they admire most. This funding will help us build the entry and connections that will determine the upcoming of the ‘connection economy’ on a international scale.”
This most current spherical additional than doubles the service’s whole funding, bringing it up to $165 million. Google Ventures, Amazon Alexa Fund, UTA, SoftBank Vision Fund 2, Valor Fairness Companions and Counterpoint World (Morgan Stanley) be part of existing investors, Lightspeed Enterprise Partners, Kleiner Perkins, The Chernin Group, Origin Ventures and Spark Capital. There are also some “talent investors” on board, as nicely, which includes skateboarding legend, Tony Hawk. Since, you know, Cameo.
Cameo states some 80% of its conventional online video requests are booked as gifts, to celebrate factors like birthdays. In total, all-around two million video clips have been created by the supplying. But the web page is looking to expand into supplemental groups. Final year it additional the ability to e book superstars as company for Zoom online video chats (a very pandemic-concentrated offering).
Some of the funding will go towards ramping up Cameo for Business (C4B), which delivers superstar movies to situations and conferences, as nicely as advertisements and revenue. Effectively, the services operates as a pipeline involving businesses and renowned folks. The corporation will also be expending its global presenting, expanding over and above the roughly 20% of video clips at present obtained outside the house the U.S.