Almost any good idea, paired with adequate funding and smart leaders can become a billion dollar company. Case in point, Cameo.
Have you heard of Cameo? It’s the online service that enables celebrities to sell personalized videos and messages to fans. For instance, you can get Mike Tyson to sing you happy birthday, or have Andrew Dice Clay record your voice mail message.
Baron App Inc. is the parent company for Cameo. It launched just four years ago, and after completing a $100 million funding round from current investors and a few others including Tony Hawk, Google Ventures and United Talent Agency, the company now is valued at $1 billion.
Cameo founder and CEO Steven Galanis said he found a sweet spot getting lower level but still famous celebrities involved. “My D-list celebrity might be your favorite person in the world. We’re tapping into this. The definition of fame has totally changed.”
The company is sharing the wealth too. The top-earner on the app is Brian Baumgartner. You might not know the name, but you’d remember the face of the actor who played Kevin Malone on “The Offfice.” Baumgartner is making a million bucks a year.
The celeb staying the busiest with the app is British actor James Buckley, who made almost 10,000 Cameos last year.
Celebrities charge from between $5 and $2,500, depending on the request and occasion, and currently there are about 40,000 total celebs accepting offers on Cameo to record messages.
The company generated $100 million in sales last year, which was four times better than 2019’s sales.
Next up is expansion. Galanis plans on breaking into the Asia and South America market soon.