Cameo to Seek Funding as CEO Eyes Expansion

Cameo, a service that lets fans pay celebrities to create personalized video messages, plans to raise more venture capital in the coming months and potentially buy smaller tech startups, according to CEO Steven Galanis.

The four-year-old startup, last valued at $300 million, also plans to introduce new money-making features such as subscriptions and in-app video chat, Galanis said. To oversee the expansion, it has revamped its executive suite in recent months, including hiring Rob Post, former chief technology officer of Quibi and a former Hulu executive, as its CTO. The additional products and funding could help it compete against bigger rivals including Patreon and OnlyFans, which have also benefited from the pandemic shutdowns to attract followers and boost sales, as well as the looming threat of Facebook, which is planning its own celebrity-video app.