Cameo operates a platform that sells paid video shoutouts from athletes, actors, and other public figures. The company disclosed a $28 million "cramdown" funding round intended to sustain the business and noted new shares are being issued at a deep discount. An investor indicated the post-investment valuation is expected to be under $100 million, down from a roughly $1 billion peak in March 2021. The round is led by existing backer Valor Equity Partners; new shares are being sold at $11.35 each while existing shares were devalued to about 1% of their prior value. Cameo has reduced headcount after prior fundraising attempts and lost a board member, Earvin “Magic” Johnson. CEO Steven Galanis said the company achieved year-over-year revenue growth after two years and that booking talent increased more than threefold; the company also saw a user uptick during the Hollywood strike. Company spokespeople said the proceeds will support sustainability going forward. Cameo operates a marketplace for personalized celebrity video messages and related direct-to-fan experiences. The service says it has produced around two million videos and that roughly 80% of standard requests are booked as gifts. Last year it added the ability to book celebrities as guests for Zoom video chats and has developed Cameo for Business to bring celebrity content to events, ads and sales. The company plans to use new funding to ramp up C4B and expand its international offering beyond the roughly 20% of videos currently purchased outside the U.S. Cameo says the pandemic accelerated adoption of direct-to-fan models and increased demand from talent to connect with fans. The latest financing more than doubles the company’s prior capital and supports broader commercial partnerships and international growth. Cameo is a Chicago-based marketplace that sells personalized video messages from celebrities, influencers, athletes and thought leaders. Customers pay for lightly scripted videos priced from about $5 up to $3,000, and Cameo takes a 25% cut of each transaction. The company recorded roughly 100,000 transactions in December and expected to have completed over 300,000 by the end of the month, fulfilling an average of about 2,000 video requests per day, and says it has increased revenue 5x year-over-year. Cameo maintains a roster of roughly 15,000 celebrities that it believes could expand to 5 million and has offices in London and Australia. With the new funding the company plans to revamp its mobile app, add in-app purchasing features, and prioritize international expansion by hiring talent-acquisition teams abroad (co-founder Martin Blencowe will focus on London and sourcing talent in Europe, South America and Asia). Cameo also intends to broaden its talent mix beyond B-list celebrities to include CEOs, investors and business influencers, and has leaned into volume-driven growth to increase social sharing and free advertising.

Total raised

$178M

Funding rounds

3

Latest round

Equity

Latest activity

Mar 2024