Celeb video web site Cameo is making its first acquisition. The corporate will purchase Signify, a advertising and merch firm that helps celebrities and types arrange individualized on-line storefronts. It’s a pure match for Cameo, which invitations followers to pay celebrities of all stripes for brief custom-made movies.
Signify counts Jennifer Lopez, Ed Sheeran, Leonardo DiCaprio, Matthew McConaughey and Kendall Jenner among the many members of its pool of partnered expertise, so Cameo shall be bringing these relationships into the fold by way of the acquisition.
The corporate can also be bringing Signify’s management on board and the acquisition will double the dimensions of Cameo’s crew in Europe. Cameo didn’t disclose the phrases of the deal.
Cameo says that its customers received’t see adjustments immediately, however sooner or later they could be capable to buy “reward bundles” that might pair a conventional Cameo video with associated merch. The corporate additionally hopes that weaving merch into its income streams will increase the fundraising efforts that many on-platform celebrities do to boost cash for nonprofits.
Most of Cameo’s customers go to the celeb video web site to obtain items for mates and family members to rejoice birthdays and different events. The corporate stated it facilitated greater than 1.3 million movies final 12 months, with the corporate’s prime 150 figures incomes north of $100,000.
The corporate has additionally added a number of new merchandise, together with Cameo Calls — quick one-on-one video calls with celebrities — and Fan Golf equipment, type of a VIP part of the positioning that helps devoted followers keep within the loop on the expertise they comply with.
Cameo has raised cash from various conventional sources like Google Ventures and SoftBank, but additionally from celeb buyers like Snoop Dogg and Tony Hawk. In March, Cameo raised $100 million Series C, bringing the corporate’s valuation to upward of $1 billion.