The company will also enhance its own technology to develop tools and services that will help all creators with content production and monetization, and it will grow its team.Ĭurrently, Lightricks has 460 employees and plans to add 60 more by the end of 2021. However, we are also on the lookout for larger ticket size deals if there is enough conviction on both sides,” he notes. To begin, we are planning between three to five acquisitions, each with a budget of tens of millions of dollars. “To do so, we are broadening our acquisition activity, while developing other services in-house - our overall M&A objective is advancing our shift into the creator’s platform. “Our plan is to grow into a one-stop shop creator platform, supporting creators throughout their journey, from content creation to monetization,” says Zeev Farbman, CEO and co-founder of Lightricks. Instead of just developing its own apps, it’s now on the hunt for potential acquisitions. To do so, the company’s strategy will change. In 2021, Lightricks is on track for over $200 million in revenue and plans to grow that figure by 40% in the year ahead. Its users average around 78 million monthly exports, indicating Lightricks’ sizable impact on the creator economy. And last year, Lightricks more directly responded to the growth in online video as a form of self-expression with a new selfie retouching tool called Facetune Video - essentially Facetune for the TikTok era.Īcross its suite of apps, the company now touts 29 million monthly active users, where over 5 million are paid subscribers. It also expanded its product lineup beyond the creator crowd to bring a suite of tools to online marketers and small businesses. Over the years, the company has rolled out the more powerful Facetune 2, along with other creativity and mobile photo apps that weren’t focused on selfies.
This growth wasn’t without controversy, however, as some argued how image-editing apps like Facetune took airbrushing too far, contributing to body image issues that now, Facebook’s internal research indicates, could have a negative effect on teenagers’ mental health.īut Facetune was only the beginning for what’s since become a mobile editing empire for Lightricks, at a time when everyone is trying to look their best online and create compelling content. The app quickly gained traction as online influencers tweaked their Instagram photos to look more polished, perfected and blemish-free. Based in Jerusalem, Lightricks has been best known for its photo-editing app Facetune, which puts Photoshop-like retouching tools into the hands of consumers.
0 kommentar(er)
