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The startup behind the online service Cameo tripled its valuation to over $ 1 billion after raising more capital, reflecting the hot market for platforms that help celebrities and content creators earn money. money thanks to their fans.
Baron App Inc. on Tuesday announced that it has completed a $ 100 million funding round led by e.Ventures with the participation of new investors such as Vision Fund 2 from SoftBank Group Corp., pro skateboarder Tony Hawk, United Talent Agency and the company Alphabet Inc. -capital bras GV. Baron App was valued at around $ 300 million in 2019 after raising $ 50 million.
Cameo launched four years ago and allows celebrities to sell personalized videos and messages to fans. The platform has drawn in those not currently in the limelight – like Brian Baumgartner of NBC’s “The Office” and octogenarian pop singer Neil Sedaka – as well as many others, from Olympic gymnast Gabby Douglas and the Former White House Press Secretary Sean Spicer to rock legend Melissa Etheridge and famous animals such as the Cincinnati Zoo and Botanical Garden hippo Fiona.
“My D-List celebrity could be your favorite person in the world,” Steven Galanis, CEO and co-founder of Cameo, said in an interview, adding that these informal rankings are irrelevant in the entertainment landscape. ‘today. “We are exploiting this. The definition of fame has totally changed. “
Cameo celebrities charge as little as $ 5 to over $ 2,500 for each recorded message, which Mr. Galanis says is mostly purchased as gifts for special occasions like someone’s birthday. Other times, they were bought to break up with a romantic partner or to play tricks on celebrity messengers. Some Cameo videos have gone viral on social media, like the one in which singer Smokey Robinson mispronounced the Jewish holiday of Hanukkah.
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