Cameo, the app that brings together customers and celebrities through paid personalised content, is apparently in talks to raise funds which would value the start-up at $1 billion, up from $300 million in 2019.
According to people close to the matter, the company is looking to raise $100 million.
The way the app works is by letting fans purchase personalised greetings and messages from stars, singers, actors and musicians.
Cameo says it’s just a digital alternative to the traditional autograph. Instead of picking up the pen, celebrities share their messages via video.
The site has attracted some 30,000 celebrities of varying degrees. The more famous a person, the higher the price tag to snap up an autograph. For example, Snoop Dog will set you back more than £620 while Lindsay Lohan greetings are available for £250.
It that way, Cameo acts like a market place for the modern autograph.
It’s not entirely clear yet what the app plans to do with the funding, but it’s likely looking to expand internationally.
The company was launched in 2017 by Steven Galanis, Devon Townsend, and Martin Blencowe.
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source https://www.businessofapps.com/news/cameo-app-looking-to-raise-100-million/
