The equity-driven deal will see Lame becoming a controlling shareholder.
Khaby Lame , the 25-year-old Italian content creator known for his tight-lipped comedy skits, has sold his company Step Distinctive Limited, which manages his global brand and commercial activities, to Rich Sparkle, a publicly traded holding company based in Hong Kong, in a transaction valued at $975 million, according to a public TAORMINA, ITALY - JUNE 28: Khaby Lame attends the 69th Taormina Film Festival on June 28, 2023 in Taormina, Italy.
The deal will be conducted “by way of issuance of 75,000,000 Ordinary Shares” of Rich Sparkle, according to the filing, making Lame a Lame owned 49% of Step Distinctive Limited prior to the acquisition, according to the SEC disclosure.As part of the deal, Lame authorized “the use of his Face ID, Voice ID, and behavioral models for AI Digital Twin development” for the creation of multilingual, cross-time-zone livestream e-commerce content.Livestream e-commerce is a titan of an industry in China. In 2024, live commerce in the country generated over $40 billion in sales, according to data from. The market is expected to grow at an annual rate of 37.4%, reaching $672 billion by 2033. The phenomenon has been taking root in the United States with the success of TikTok Shop as well as dedicated livestreaming app Whatnot, which took off thanks to tradables and collectibles like Funko Pops and now generates more than $6 billion in annual sales, according to the. The development of Lame’s digital AI twin presents an opportunity for Rich Sparkle to capitalize on the popularity of his image in multiple markets simultaneously.2.6 billion - That’s the number of likes Lame has accumulated on his TikTok page over time. He also boasts over 160 million followers, making him the biggest TikToker globally., with estimated earnings of $20 million and an average engagement rate of 0.86%. In addition to cashing in on his steady flow of millions of views per video, Lame has also signed lucrative partnerships with brands including Hugo Boss, with which he launched aLame was born in Senegal but immigrated to Italy as an infant with his family. He began posting on TikTok in 2020 after being laid off from his job due to the COVID pandemic. His TikTok page took off with remarkable speed from there. In August 2021, after just about 17 months of activity, Lame, becoming the second person in the platform’s history, and the first Europe-based creator, to reach that milestone. Khaby has since beat out the competition to become the most-followed person on TikTok, with his most popular videos raking in over 300 million views each. Since achieving stardom, Lame has made several high-profile appearances in the U.S., including walking the red carpet at the Met Gala and starring in a 2023 Super Bowl campaign for State Farm. In June, he was briefly detained by ICE at Harry Reid International Airport in Las Vegas for overstaying the terms of his visa. Lame was granted “voluntary departure,” which means he won’t be automatically barred from re-entry in the future and may apply for the proper visa.
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