Cameo in Talks to Raise Funds at About $1 Billion Value
(Bloomberg) -- Cameo, an app connecting customers to celebrities paid to record personalized messages, is in discussions to raise funds at a valuation of about $1 billion, according to people familiar with the matter.
Cameo is seeking about $100 million in the funding round, the people said, asking not to be identified because the matter was private. The size of the round and valuation could still change, the people said.
The round would be the first to make a so-called unicorn of Cameo, the business name of Baron App Inc. The Chicago-based company was last valued at $300 million in 2019 after it raised $50 million, according to PitchBook.
A representative for Cameo didn’t respond to a request for comment.
Cameo operates as a marketplace in which celebrities set their own prices for videos that can be purchased by consumers or businesses. On the website Thursday, celebrities offered their services at a range of prices.
Comedian Steve Harvey currently charges $750 for a greeting, while actress Lindsay Lohan is $375. Mark McGrath, the lead singer of ‘90s band Sugar Ray, is $90.
Cameo fits into a larger trend of celebrities directly profiting off their fame. Everyone from Will Smith to D-list reality stars have started their own YouTube channels, accepted paid posts on Instagram or started an account on sites like Patreon and OnlyFans.
The company was founded in 2017 by Steven Galanis, Devon Townsend, and Martin Blencowe, according to its website.
Cameo is backed by investors including Kleiner Perkins, Chernin Group, Bain Capital Ventures, LightSpeed Venture Partners and Spark Capital
©2021 Bloomberg L.P.