TikTok star Khaby Lame sells company in US$900m deal
Khaby Lame, the world’s most-followed TikToker, has inked over US$900 million in a deal which saw the sale of a stake in his company, Step Distinctive Limited, according to United States (US) media reports.
The Hollywood Reporter detailed the all-stock deal between Lame and Hong Kong-based Rich Sparkle Holdings on Tuesday.
The financial firm reportedly acquired a stake in Lame’s company, which allows it to have 36 months of exclusive global rights to his brand, focusing on the United States, the Middle East and Southeast Asia.
The report says the company has plans to create an artificial intelligence (AI) version of Lame using the influencer’s face, as well as voice and behaviours, and use that version to create social media content, as well as increase his output and posting capabilities across multiple time zones.
Lame has more than 160 million followers on TikTok and over 77 million on Meta-owned Instagram.
Over the 36 months, the firm also plans to capitalise on Lame’s TikTok fanbase with rights over his TikTok shop, a shopping app available on the platform, the report said. Their control also extends to his live stream and short-video commerce planning and programming, brand endorsements and more.
Born Khabane Serigne Lame in Senegal in 2000, Lame, who is Senegalese-Italian, rose to fame for his reaction/hackvideos on TikTok.
The company expects to make more than US$4 billion in sales, it said in a filing citing Lame’s cumulative 360 million fans across all social platforms. Lame will also become a controlling shareholder.
The report said any pricing will be region-specific, with independent profit accounting to match different consumer purchasing power.