Cameo, the celebrity shout-out startup, nears $300m valuation
A startup called Cameo offers celebrity worshippers the next best thing to an autographed left butt cheek: an Instagram name-drop.
Now, Cameo’s platform — which gives fans a way to pay for personalized plugs from their favorite stars — is finalizing a new funding round (size undisclosed) that will value the company at more than $300m, Axios reports.
People will shell out for celebs
Big stars like Snoop Dogg and Brett Favre will drop your name for $500 while niche YouTuber celebs offer shout-outs for $5 or less.
Cameo is an outgrowth of the influencer economy: The company launched in 2017 when co-founder Steven Galanis saw a Seattle Seahawks superfan wig out after a shout-out and realized that people would pay for the same privilege.
How do the economics work?
Celebrities set their own prices, which range from free for some brand influencers to $2.5k for Caitlyn Jenner. For every Cameo purchased, the company takes a 25% cut — and the celebrity gets the rest.
For most celebs, it seems to be a good deal. Dorinda Medley, a “Real Housewives” star who set her price at $125 per shout-out, makes roughly $2.8k per week for dishing out a few minutes of shout outs.