The start-up behind online service Cameo tripled its valuation to more than $1 billion after raising more capital, showing the hot market for platforms that assist stars and content creators earn money from their fan bases.
Baron App Inc. stated Tuesday it finished a $100 million financing round led by e.Ventures with participation from brand-new financiers such as SoftBank Group Corp.s Vision Fund 2, professional skateboarder Tony Hawk, United Talent Agency and Alphabet Inc.s venture-capital arm GV. Baron App was valued at around $300 million in 2019 after raising $50 million.
Cameo introduced 4 years ago and it makes it possible for celebs to offer customized videos and messages to fans. The platform has brought in those not presently in the spotlight– like Brian Baumgartner of NBCs “The Office” and octogenarian pop singer Neil Sedaka– as well as a variety of others from Olympic gymnast Gabby Douglas and former White House press secretary Sean Spicer to rock legend Melissa Etheridge and popular animals such as Cincinnati Zoo & & Botanical Gardens hippo Fiona.
” My D-list celeb may be your preferred individual on the planet,” Steven Galanis, president and co-founder of Cameo, said in an interview, including that those informal list scores arent relevant in todays home entertainment landscape. “Were taking advantage of this. The definition of fame has completely changed.”
Cameo stars charge from just $5 to more than $2,500 for each taped message, which Mr. Galanis said are mostly purchased as gifts for special occasions like someones birthday. Other times they have been acquired to break up with a romantic partner or to play techniques on the celebrity messengers. Some Cameo videos have actually gone viral on social media, such as one in which vocalist Smokey Robinson mispronounced the Jewish vacation Hanukkah.