"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 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.""
Khaby Lame sold a stake in Step Distinctive Limited to Rich Sparkle Holdings in an all-stock transaction valued at $975 million. The agreement grants 36 months of exclusive global rights to Lame's brand and commercialization. The company will monetize his TikTok audience of about 160 million followers, including rights over his TikTok shop, livestreams, short-video commerce programming, and brand endorsements. The firm projects more than $4 billion in annual sales based on 360 million fans across platforms. Plans include creating an AI version of Lame to produce multilingual content and increase posting across time zones. Lame will be a controlling shareholder, and the cooperation will focus on the United States, the Middle East, and Southeast Asia with region-specific pricing and independent profit accounting.
Read at The Hollywood Reporter
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