Home / Business and Economy / TikTok Star Khaby Lame Sells Company for $975 Million
TikTok Star Khaby Lame Sells Company for $975 Million
28 Jan
Summary
- Khaby Lame's company was sold for Rs 8,980 crore ($975 million).
- A Hong Kong holding company acquired Lame's brand management firm.
- Anhui Xiaoheiyang Network Technology will manage global commercialisation.
Khaby Lame, the globally recognized Italian content creator, has finalized the sale of his company, Step Distinctive Limited. The transaction, valued at a substantial Rs 8,980 crore ($975 million), involved the acquisition by Rich Sparkle, a holding company based in Hong Kong.
As part of the agreement, Anhui Xiaoheiyang Network Technology, a Chinese operator, will manage Lame's worldwide commercialization efforts for an initial period of 36 months. This strategic move is anticipated to drive over $4 billion in annual sales, focusing on key markets such as the US, the Middle East, and Southeast Asia.
Lame, whose real name is Seringe Khabane Lame, rose to fame during the COVID-19 pandemic with his silent, comedic reaction videos. The deal also includes provisions for the development of an 'AI Digital Twin' using Lame's biometric data for multilingual social media content creation.
With an extensive following of over 77 million on Instagram and 161 million on TikTok, Lame has previously engaged in lucrative partnerships with major brands. This sale marks a significant financial milestone for the 25-year-old social media phenomenon.
