Tag: actors

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Kim Kardashian becomes a private equity dealmaker in collab with ex-Carlyle partner

America’s favorite reality star is leveling up her repertoire and levering up businesses. Kim Kardashian, who passed the “baby bar” exam in preparation to become a lawyer last year, just added another job title to her lineup — private equity investor.

Kardashian is launching private equity firm SKKY Partners in conjunction with ex-Carlyle consumer head Jay Sammons to invest in business across consumer products, hospitality, luxury, digital commerce and media, The Wall Street Journal first reported. SKKY will take both control and minority stakes in its target companies, according to the Journal.

Sammons, who left Carlyle this summer after spending 16+ years at the top private equity firm, is known for his bets on brands including Supreme and Beats by Dre. A longtime friend of the Kardashians, Sammons apparently approached Kardashian and her mom-ager, Kris Jenner, with the idea to start the business. Jenner will be joining SKKY as a partner, the Journal reported.

Sammons plans to oversee the firm’s daily operations from Boston, where he lives, while SKKY’s second office will be in Kardashian’s hometown of Los Angeles. Kardashian told the Journal that the firm is aiming to make its first investment before the end of 2022 and plans to go out to institutional investors to raise capital shortly. Neither Sammons nor Kardashian shared any details on the expected fund size they hope to raise.

Kardashian is the latest celebrity to make inroads in the world of private capital management, following tennis sensation Serena Williams’ pivot to working full-time in venture capital last month. For Kardashian, though, private equity is just another side hustle rather than her main area of focus, at least for now.

Kardashian’s foray into launching an undergarment and loungewear brand, Skims, made her a billionaire — the business was most recently valued at $3.2 billion with her stake at over $1 billion. She also launched a nine-product skincare line this year in collaboration with consumer conglomerate Coty, an investor in her beauty company, and announced earlier this week that she is debuting her own true crime podcast called “The System” in a cover story with Interview Magazine. 

Serena Williams’ next act in venture capital is essential in this moment

Kim Kardashian becomes a private equity dealmaker in collab with ex-Carlyle partner by Anita Ramaswamy originally published on TechCrunch

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Cameo buys fan merch platform Represent

Celeb video site Cameo is making its first acquisition. The company will buy Represent, a marketing and merch company that helps celebrities and brands set up individualized online storefronts. It’s a natural fit for Cameo, which invites fans to pay celebrities of all stripes for short customized videos.

Represent counts Jennifer Lopez, Ed Sheeran, Leonardo DiCaprio, Matthew McConaughey and Kendall Jenner among the members of its pool of partnered talent, so Cameo will be bringing those relationships into the fold through the acquisition.

The company is also bringing Represent’s leadership on board and the acquisition will double the size of Cameo’s team in Europe. Cameo did not disclose the terms of the deal.

Cameo says that its users won’t see changes right away, but in the future they might be able to purchase “gift bundles” that would pair a traditional Cameo video with related merch. The company also hopes that weaving merch into its revenue streams will boost the fundraising efforts that many on-platform celebrities do to raise money for nonprofits.

Most of Cameo’s users visit the celeb video site to procure gifts for friends and loved ones to celebrate birthdays and other occasions. The company said it facilitated more than 1.3 million videos last year, with the company’s top 150 figures earning north of $100,000.

The company has also added a few new products, including Cameo Calls — short one-on-one video calls with celebrities — and Fan Clubs, sort of a VIP section of the site that helps dedicated fans stay in the loop on the talent they follow.

Cameo has raised money from a number of traditional sources like Google Ventures and SoftBank, but also from celebrity investors like Snoop Dogg and Tony Hawk. In March, Cameo raised $100 million Series C, bringing the company’s valuation to upward of $1 billion.

Cameo raises $50M to deliver personalized messages from celebrities & influencers

Celebrity video request site Cameo reaches unicorn status with $100M raise

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William Shatner to fly on Blue Origin’s next human spaceflight on October 12

Blue Origin’s next passenger list will include TV and film space exploration veteran William Shatner, along with Blue Origin’s own Audrey Powers, who serves as the company’s Voice President of Mission & Flight Operations. These two will round out the four-person crew that includes previously announced passengers Chris Boshuizen and Glen de Vries, on a launch that is scheduled to fly on October 12.

Shatner, who of course played Captain James T. Kirk on Star Trek, will become the oldest person to have flown in space when he makes the trip, narrowly edging out current record holder Wally Funk, the aerospace pioneer who flew on Blue Origin’s first human spaceflight on July 20 alongside Jeff Bezos. Shatner is 90, while Funk is 82.

Besides Bezos himself, Audrey Powers will be the first Blue Origin employee to make the journey to suborbital space with the company. She’s been on the Blue Origin team since 2013, and served as its deputy general counsel before leaving the mission and flight operations team for the company’s New Shepard rocket.

Boshuizen and de Vries, the who other previously announced passengers, were announced last week. Boshuizen is a Planet Labs co-founder, and current Partner at VC firm DCVC. De Vries is co-founder of a medical software startup, Medidata Solutions, that was acquired by Dassault Systems.

Blue Origin is currently facing scrutiny and criticism after former employee Alexandra Abrams went public with a letter co-authored with 20 other current and former company employees detailing accusations of safety concerns and a history of sexual harassment at the company. This doesn’t appear to have impacted the company’s launch schedule, though the FAA is said to be reviewing the safety concerns brought to light in the Abrams letter.

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Gwyneth Paltrow invests in The Expert, a video marketplace for high-end interior designers

The pandemic-induced lockdowns halted many a home decoration project, but the irony was that our homes became even more important. But where to get ideas to decorate? Home decor experts could no longer visit. Now an LA-based startup is addressing this digitization of the interior design market, but kicking off with a typically LA-oriented, high-end clientele.

The LA-based The Expert – a platform for video consultations with interior designers – has raised a $3 million seed funding round led by Forerunner Ventures, with participation from Sweet Capital, Promus Ventures, Golden Ventures, Jeffrey Katzenberg’s WndrCo, AD 100 designer Brigette Romanek, and movie star Gwyneth Paltrow.

The Expert offers 1:1 video consultations with leading interior designers, it says.

The founders consist of Jake Arnold, a celebrity interior designer (who has worked with John Legend, Rashida Jones, and Cameron Diaz among, others) and YC-alumni, Leo Seigal, who previously founded and sold Represent.com to CustomInk for $100m in 2015.

After being “inundated” with DMs during lockdown asking for his advice, Arnold says he realized he didn’t have the business model to help non-retainer clients. So he joined Seigal to create The Expert.

The Expert features 85 designers, so far. CLients click on their profiles to see rates and availability and then click to book. Clients can upload any relevant floor plans, images of the home, inspiration ideas etc for the designer to review ahead of time. They then join a zoom link (the platform uses the Zoom API) to meet with an interior designer and can leave a review afterward.

The company claims it has 700 designers on its waitlist and will hit $1m of bookings after its first quarter, after launching in early February this year.

The startup has some competition in the form of Modsy and Havenly, but The Expert says it is going for a more high-end experience, where clients are willing to pay $300-$2,500 for an hour of a designers’ time. The startup takes a 20% cut of the transaction.

Co-founder Leo Seigal said: “We were able to attract a crazy roster of designers partly thanks to co-founder Jake who is so highly regarded in the industry, and partly due to a timeliness of offering which is far above anything that has been tried in the home space.”

In a statement, Gwyneth Paltrow said: “I’ve always felt that access to great design – and those who create it – is too rare of a commodity. It’s a game-changer for someone without the budget for a full-time designer to have this roster of talent on speed dial.”

Nicole Johnson, Partner at Forerunner said: “We’ve been thinking through new models for the interior design sector for years at Forerunner, observing room for improvement for the trade and consumers alike. Interior design is arguably the ultimate, best-suited source of home inspiration and commerce enablement for consumers, but the trade is a famously walled garden. The Expert solves for this, connecting anyone, anywhere with the world’s leading interior designers via video consultation—allowing Experts to broaden their reach and monetization in a predictable, rewarding, and low-friction way.”

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Gwyneth Paltrow, Rebel Wilson, Darren Criss, and Baron Davis are backing an LA-based weed soda company

Celebrity investors including Gwyneth Paltrow, Rebel Wilson, Ruby Rose, Darren Criss, Baron Davis, Tove Lo, and Casey Neistat have come together to back the Los Angeles-based thc-infused drink company, Cann, the company said.

It’s the latest in a string of deals that show the strength of the market for alternative intoxicants — at least in California.

News of the funding follows yesterday’s announcement that the Los Angeles-based, national liquor delivery service Saucey would be merging with a marijuana dispensary and delivery service, Emjay under the mantle of Pacific Coast Holdings.

For its part, Cann has become the fastest growing THC beverage on the market with over 2 million cans of the stuff sold (I’ve had it. It’s good.).

For the company’s backers — and its founders — the pitch that Cann is a better alternative to alcohol simply resonates.

“Cann sits at the intersection of two powerful trends we’ve been monitoring at goop for some time: the
‘sober curious’ and ‘cannabis curious’ movements,” said Gwyneth Paltrow, the multi-hyphenate actress-entrepreneur-musician (she sings!) who founded the lifestyle and wellness brand, goop. “There’s no reason why alcohol should be so much easier to purchase than Cann, and I’m confident the founders will lead the charge in finding ways to integrate it into the same purchasing channels and drinking environments.”

Cann’s not the only company looking to carve out a slice of the liquor market with an alternative intoxicant. There’s also Kin Euphorics, which also pitches itself as an alcohol alternative. Then there’s a slew of CBD and THC infused drinks that have managed to attract venture backing. They include K-Zen Beverages, which has raised $5 million from the investment firm DCM to roll out its line of intoxicants and California Dreamin’ is a Y Combinator-backed intoxicant containing a whopping 10 milligrams of THC. Sweet Reason raised money from Lerer Hippeau for its CBD-sparkling drink and Recess, Daytrip, Infuzed, and Dram all have offerings as well.

Cann’s cans come with 2 milligrams of THC and 4 milligrams of CBD, which, after a few cans of Cann is enough for a light buzz.

Actress Ruby Rose cited the company’s commitment to diversity, with a staff that’s comprised equally of men and women and where people of color make up 33% of the total headcount.

For its next act, Cann is looking to grow its geographic footprint. The company expanded into Nevada in the past year and is eyeing four more states within the next six months, according to a statement.

 

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Leonardo DiCaprio takes a stake in Struck Capital to fund the future of LA’s tech ecosystem

Leonardo DiCaprio is making a significant commitment to the Los Angeles-based investment firm, Struck Capital, as part of the actor’s commitment to building LA into a tech development powerhouse.

It’s part of what Struck Capital founder Adam Struck called a vision of making Los Angeles “a leading hub for innovation to save the world.”

Struck Capital, which is currently investing out of a $55 million second fund, would not disclose the size of DiCaprio’s stake, but said that the investment is significant.

“Los Angeles has a creative and innovative spirit like nowhere else, and I’m excited to be investing in the next generation of entrepreneurs and business leaders in my hometown,” said DiCaprio, in a statement.

DiCaprio has already made a number of investments in startup companies that have done very well for the Academy Award-winning actor. Two investments, the mattress retailer Casper and the meat alternative manufacturer, Beyond Meat, are now both publicly traded companies. In fact, Beyond Meat was one of the best performing public offerings of the last year.

And the two investments highlight themes of consumer innovation and sustainability that are a through-line across the startup commitments DiCaprio has made public, according to CrunchBase. Other investments include the lab grown diamond manufacturer, Diamond Foundry; the tea company promoting sustainable rainforest preservation, Runa Tea; recycling technology developer, Rubicon; the sustainable meal prep company, Love The Wild; and Magnus, an app that bills itself as a Shazam for art. DiCaprio is also investor in the Los Angeles-based ethically and sustainably focused financial services firm, Aspiration.

“He sees this as a way to support LA,” said Struck of DiCaprio’s commitment.

In addition to his commitment to the fund, DiCaprio will be making co-investments alongside the Struck Capital team. In fact, the actor has already investment in Raptor Maps, a company that uses drones to analyze the productivity and operations of solar farms.

“He chose us because he already appreciates our mandate,” said Struck. And while the firm may not be an impact investment fund by design, Struck said the company’s deals focus on financial inclusion, sustainability, and technological innovation as first principals. 

“I think, fundamentally, if a business is mission driven, they’re most likely going to acquire higher enterprise values and retain more talent,” Struck said.

Struck is now the fourth largest dedicated seed fund in Los Angeles, and has nearly $150 million in assets under management. Its portfolio companies include: Sendoso, ScratchPay, Mythical Games, and Brainbase and has backed and exited a number of later stage companies like Mojo Vision, Postmates, Nutanix, Latch, Grab, and Wunder Mobility.

“Alongside the team at Struck Capital we’re creating a community, where the next generation of LA’s leaders can grow their business, learn from one another, achieve their visions, and improve our world,” DiCaprio said in a statement.

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Marvel’s new ‘Black Widow’ trailer teases the spy thriller Natasha Romanoff deserves

Marvel has a trailer out for Black Widow, the story focused on the member of the Avengers team played by Scarlett Johansson. This preview of the movie features a lot of heart-pumping action, and an all-star cast that includes Rachel Weisz, Florence Pugh, David Harbour, and of course, Johansson herself.

What we get in this trailer is a look at a movie that appears to span multiple genres – it starts off looking very much like a Bourne-esque spy thriller with exciting, somewhat gritty hand-to-hand fight scenes. Later on, though, it seems to show more superhero vibes in the tradition of the big and glossy Marvel cinematic universe, though leaning more towards Captain America: Winter Soldier than the big tent circus set pieces of the core Avengers lineup, or the wacky, neon glare of the Guardians franchise and the most recent Thor.

Black Widow’s Russian spy background is clearly on display here, and it looks like there’s going to be a very weird ‘family reunion’ on display with some Russian heroes. Overall, it looks entertaining as heck – and it has a lot to live up to, as the first Marvel Studios film after Avengers: Endgame (Spider-Man: Far From Home only gets partial credit because of the shared character ownership with Sony).

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Watch Katee Sackhoff deal with space bugs in the trailer for Netflix’s ‘Another Life’

Netflix has a new sci-fi series coming in hot on July 25, and it’s got Battlestar Galactica‘s Katee Sackhoff in the lead role, with Selma Blair and Justin Chatwin supporting. The show focuses on Sackhoff’s Captain Niko Breckenridge and her crew of space explorers as they track down the origins of a mysterious alien artifact that finds its way to Earth.

Sounds like this will be quite the galaxy-spanning affair, with Chatwin playing Sackhoff’s husband, who stays back on Earth and tries to make contact with the alien through the artifact directly. It’s not super clear what else is going to happen from this trailer, but it looks like there’s some space future nightclub activity, spaceship misadventures, subterranean alien bugs and more.

This is pretty much precisely my jam so I’m not sure if Netflix’s programming algorithm is over indexing on my viewing history or what, but it’s nice that this one is dropping soon so we won’t have to wait long to see what it’s like.

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Netflix snags Ubisoft’s ‘Tom Clancy’s The Division’ adaptation starring Jake Gyllenhaal and Jessica Chastain

Netflix has snagged the distribution rights to Ubisoft’s adaptation of “Tom Clancy’s The Division” starring Jessica Chastain and Jake Gyllenhaal.

Directed by David Leitch, the new movie will come with a screenplay from Rafe Judkins, who’s also penning and showrunning Amazon’s adaptation of the “Wheel of Time” series.

The story is apparently set in the future when a pandemic virus spread via paper money kills millions across New York City. The heartening Christmastime-set story will focus on an attempt by a group of ragtag civilians whoa re trained to address catastrophes attempt to shore up what remains of civilizations against its ruins.

According to Variety, the producers include 87North Productions, Gyllenhaal’s Nine Stories, Chastain’s Freckle Films along with Ubisoft Film and Television.

Video games are another vein that Hollywood is mining for potential tentpole franchises. While their success has been mixed, “Tomb Raider”, “Resident Evil” “Angry Birds” and even “Detective Pikachu” have all raked in hundreds of millions of dollars at the box office after making the jump from console to cinema screen.

Ubisoft’s own attempts at box office gold have been somewhat less successful. The company tried with “Assassin’s Creed” and the Jake Gyllenhaal vehicle “Prince of Persia” but neither film resonated with audiences. Perhaps Netflix’s ability to control the funnel for an audience will encourage more viewers to sing on to “Tom Clancy’s The Division”.

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New ‘Black Mirror’ trailer features Miley Cyrus, Anthony Mackie… and more dystopia

“Black Mirror” is coming back for its fifth season to once again show us why technology’s progress means we can no longer have nice things.

The new season will tell three stories written by Charlie Brooker and Annabel Jones.

Featured performers include Anthony Mackie, Miley Cyrus, Yahya Abdul-Mateen II, Topher Grace, Damson Idris, Andrew Scott, Nicole Beharie, Pom Klementieff, Angourie Rice, Madison Davenport and Ludi Lin.

The last “Black Mirror” feature to appear on Netflix was the interactive epic “Bandersnatch”, which let viewers determine the fate of characters throughout the course of the story.

It was an experiment that could cost Netflix, thanks to a lawsuit from Chooseco, the company behind the “Choose your own adventure” series of books that inspired Black Mirror’s experiment in storytelling.

Netflix faces $25 million lawsuit over ‘Black Mirror: Bandersnatch’

The fifth season likely marks a return to straight episodic narratives, with Cyrus featured in what “Variety” called a “meta storyline” about a celebrity who undergoes a transformation to attract more fans.

The new episodes will drop on Netflix on June 5.