“Khaby Lame, the most-followed TikTok creator, has sold a stake in his company, Step Distinctive Limited, in an all-stock deal valued at $975 million. Rich Sparkle Holdings, a Hong-Kong based financial firm that is listed on the Nasdaq, has acquired a stake in his company, which will allow the company to have 36 months of”, — write: www.hollywoodreporter.com
Rich Sparkle Holdings, a Hong-Kong based financial firm that is listed on the Nasdaq, has acquired a stake in his company, which will allow the company to have 36 months of exclusive global rights to Lame’s brand. During that time period, the company plans to capitalize on his fanbase of 160 million followers on TikTok, including the rights over his TikTok shop, live stream and short-video commerce planning and programming, brand endorsements and more.
“Khaby Lame’s fan-based commercialization could generate more than $4 billion in annual sales,” the company said in a filing, noting he has 360 million fans across all social platforms globally. His TikTok following puts him just above influencer Charli D’Amelio.
Additionally, the company plans to create an AI version of Lame that will include his face, voice and behaviors to create multilingual social media content, as well as increase his output and posting capabilities across multiple time zones. Lame shot to fame thanks to his wordless videos that show everyday life hacks, which the company notes allows him to “scale across languages and cultures without translation.”
As part of the deal, the company adds that Lame will become a controlling shareholder.
During the cooperation period, the company will focus on the United States, the Middle East, and Southeast Asia as key regions, with region-specific pricing structure and independent profit accounting to match different consumer purchasing power.
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