Cameo’s business model is based on a simple commission fee: The talent takes 75% of every transaction, and the company pockets the rest ForbesUnder30
, meanwhile, costs a little less, at $40 a shot. Cameo is, in other words, Hallmark for an entirely younger generation.
Those figures have investors pleased. “At the time when we invested [in June 2019], Cameo had grown pretty much every metric by ten times since the year prior,” Kleiner Perkins partner Ilya Fushman says. “All the most important metrics were up and to the right, ten times year-over-year growth, which is obviously what you love to see, and you don’t see very often. . . . It made this a no-brainer investment.
Galanis wanted to build a platform to book any athlete in the world for some amount of money to do anything. “If you wanted to go golfing with Michael Jordan or you wanted Carmelo Anthony to come to your kid’s bar mitzvah, this would let you do that,” Townsend says. They hacked together a working version of Galanis’ idea in about three months but quickly realized it was too difficult to account for the variance in celebrities’ schedules.
“She was sitting on the floor and laughing and crying,” Townsend says. “She was literally crying. It’s the most powerful video we’d ever seen. It was this really cool validation that it was something that could work and something that people could want.”talent to join.
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