BAM! Cameo Looks to Double Revenues

Cameo CEO Steven Galanis tells me in the most recent episode of "Axios on HBO" that the company plans to bring in over $200 million in revenues this year, more than doubling its revenues from 2020. Cameo pays creators 75% of their revenues and keeps the rest. Why it matters: The app, which lets fans pay for personalized videos from celebrities, experienced unprecedented success last year, thanks to COVID lockdowns that restricted celebrities from engaging fans in-person. Galanis doesn't see lifted lockdowns as a detriment to his company's growth plans. Asked if the four-year-old company was profitable, Galanis said Cameo is in investment mode. "We don't have any aspirations of being profitable at this point. We're investing for growth." What's next: Galanas wants to go public via an IPO. "My dream has been to run a publicly traded company," but he notes that the company is many months away from being ready. He concedes that he would entertain other options, like an acquisition, if it was the best thing for the company, the talent and investors. Cameo recently raised $100 million at a valuation of just over $1 billion. -Axios