Shared from www.dexerto.com
Social media stars Charli and Dixie D’Amelio are among two of TikTok’s most-followed and highest-paid creators on the app — but the sisters are looking to expand their reach by investing in Lightricks, creators of popular apps Facetune and Videoleap.
While many Influencers do one-off partnerships with brands, the D’Amelio family seems to be doing something a little more lucrative.
Sure, they’ve worked with those brands on partnerships before, like with Dunkin’ Donuts and Hollister Co.
However, they’re now using their combined following of more than 200 million — and the money made off that — to invest in to emerging brands, the latest of which is Lightricks.
The D’Amelio family has invested some of their social media fortunes into Lightricks.
A look into the D’Amelio’s x Lightricks partnership
On February 23, The D’Amelios — Charli, Dixie, along with their parents Marc and Heidi — announced that they have taken an equity stake in Lightricks, a company which develops photo, design, and video-editing apps like Facetune and Videoleap.
While Lightricks didn’t disclose how much the family invested, they did confirm that the investment was separate from the $130 million the company raised in funding.
“The family are trailblazing the creator economy and continue to inspire up-and-coming creators worldwide,” said Zeev Farbman, CEO of Lightricks, in a release.
“It will be a pleasure to have the family so involved in every step of the development process,” the CEO added.
According to Crunchbase, this is the family’s first startup venture as a collective. Charli D’Amelio herself invested in Step, a teen banking company, during their $100 million Series C raise in 2021.
In January 2022, Charli and her sister Dixie were named “the platform’s [TikTok’s] highest-paid celebrities” collectively making over $55 million in 2021 alone.
There is no telling where the family’s investment will take them, but it could just be the first of many.
Images and Article from www.dexerto.com