Lightricks

From Wikipedia, the free encyclopedia
Lightricks
TypePrivate
IndustrySoftware Development
Founded2013
HeadquartersJerusalem, Israel
Key people
Zeev Farbman
OwnerLightricks Ltd
Number of employees
450
Websitelightricks.com

Lightricks, founded in January 2013, is a company that develops video and image editing mobile apps, known particularly for its selfie-editing app, Facetune.[1][2][3] Headquartered in Jerusalem, the firm has over 450 employees.[4][5] As of 2021, its apps have been downloaded over 500 million times.[6]

History[]

The company was created in 2013 by 5 founders, Ph.D. students Zeev Farbman, Nir Pochter, Yaron Inger, Amit Goldstein, and former Supreme Court of Israel clerk Itai Tsiddon who were all studying at the Hebrew University of Jerusalem.[2][7] Lightricks began life as a bootstrapped company, which was the subject of a case study from the Harvard Business School "Bootstrapping at Lightricks".[8]

The company received in 2015 its first funding round of $10 million led by Viola Ventures.[9][10] It received its second round of funding of $60 million in November 2018, led by Insight Venture Partners and with participation from Israeli VC company ClalTech.[7] In July 2019, it secured $135 million in series C funding led by Goldman Sachs, with participation from Insight Partners and ClalTech; this was reported to imply a $1 billion valuation.[11][12][13] It puts the total raised to date at $205 million.[14][15] Lightricks ended 2018 with over $50 million in revenue.[2] In September 2021, the company received $100 million in primary and $30 million in secondary Series D funding. This valued the company at $1.8 billion.[16]

Operations[]

After beginning in the Hebrew University campus, the company outgrew its space a number of times. It remains based in Jerusalem, Israel, with offices in London, Germany and New York City; it has a total of over 450 employees.[17][4][18]

Once Apple Inc allowed it, Lightricks was one of the first app companies to offer subscriptions. Most of its apps are now published under a freemium model.[19][20][21]

Products[]

  • Facetune (now superseded by Facetune2) which was named as Apple's most downloaded app in 2017.[22] In 2021 it was ranked as one of Apple's top-5 paid apps for the seventh consecutive year.[23]
  • Photoleap (formerly known as Photofox and Enlight), a general image editing app, which was preceded by Enlight Photofox.[24] The app allows the user to generate artwork to be shared on social media with a number of different editing options.[25]
  • Lightleap (formerly known as Quickshot), a pre-image viewer.[26]
  • Videoleap, a video editor.[27]
  • Motionleap (formerly known as Pixaloop), an image animation tool created in 2018 where one can animate otherwise-still elements of a picture in different ways.
  • Beatleap, an audio-first video editing tool. The app features music by Epidemic Sound.
  • Artleap(formerly known as QuickArt), a photo editing tool.
  • Seen, a story making tool.
  • Boosted (formerly known as BoostApps), a graphic design template tool aimed towards social media marketing.[28]
  • Facetune Video, a selfie-retouching video tool that allows users to retouch and edit their selfie and portrait videos in real time using a set of A.I.-powered tools.[29]
  • Filtertune, a photo filter tool designed to create a community around custom photo filters. With the app, creators can make their own personalized preset photo filters, then share them across social media as photos with a QR code attached.[30]

References[]

  1. ^ "Lightricks proves the Start Up Nation is not just about Tel-Aviv". The Jerusalem Post. Retrieved 16 July 2019.
  2. ^ a b c "Calcalist's Top 50 Startups 2019: #11-#17". Calcalist. Retrieved 16 July 2019.
  3. ^ "Mobile photo connect : 10 questions to a founder : Lightricks". Kaptur. Retrieved 16 July 2019.
  4. ^ a b "Facetune Developer Lightricks to Open R&D Center in Haifa". Calacalist. Retrieved 4 March 2021.
  5. ^ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Ha'aretz. Retrieved 4 September 2019.
  6. ^ Hazani, Golan (2021-09-19). "Lightricks announces $130 million Series D at $1.8 billion valuation". CTECH - www.calcalistech.com. Retrieved 2021-12-19.
  7. ^ a b "Enlight and Facetune creator Lightricks raises $60 million". Venture Beat. Retrieved 16 July 2019.
  8. ^ "Bootstrapping at Lightricks". Harvard Business School. Retrieved 16 July 2019.
  9. ^ "Israeli image editing app co Lightricks raises $60m". Globes. Retrieved 16 July 2019.
  10. ^ "Lightricks, The Creator Of Facetune, Lands $10M To Develop New Photo-Editing Apps". TechCrunch. Retrieved 16 July 2019.
  11. ^ "App developer Lightricks raises $135 million at a $1 billion valuation". Venture Beat. Retrieved 31 July 2019.
  12. ^ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Ha'aretz. Retrieved 1 August 2019.
  13. ^ "The maker of popular selfie app Facetune just landed $135 million at a unicorn valuation". TechCrunch. Retrieved 1 August 2019.
  14. ^ "Israeli software firm Lightricks raises $135 million at $1 billion valuation". Reuters. Retrieved 3 March 2021.
  15. ^ "App developer Lightricks raises $135 million at a $1 billion valuation". VentureBeat. Retrieved 3 March 2021.
  16. ^ "Facetune maker Lightricks raises $130 million ahead of M&A plans". Techcrunch. Retrieved 31 October 2021.
  17. ^ "C-tech: Jerusalem-based Lightricks opens London office". UK Israel Business. Retrieved 16 July 2019.
  18. ^ "To keep creativity alive, Lightricks initiated its 'Creativity Festival'". Calacalist. Retrieved 4 March 2021.
  19. ^ "Apple reportedly asked devs to adopt subscriptions and hike app prices". Venture Beat. Retrieved 16 July 2019.
  20. ^ "Leading developer Lightricks launches Facetune 2.0 to leverage Apple's app subscription model". Venture Beat. Retrieved 16 July 2019.
  21. ^ "Facetune is looking to prove that the subscription iPhone app model can work". Vox. Retrieved 16 July 2019.
  22. ^ "Apple's most downloaded apps of 2017". Mashable. Retrieved 16 July 2019.
  23. ^ Thompson, David (2021-12-17). "Facetune Apps Amass Over 30 Million iPhone Downloads in 2021". Tech Times. Retrieved 2021-12-19.
  24. ^ "Facetune maker's newest app, Enlight Photofox, is a powerful image editor". TechCrunch. Retrieved 16 July 2019.
  25. ^ "Testing photo editing apps: "Photofox: Digital Art"". DW. Retrieved 19 April 2021.
  26. ^ "Enlight Quickshot". Sensor Tower. Retrieved 16 July 2019.
  27. ^ "Enlight Videoleap". Sensor Tower. Retrieved 16 July 2019.
  28. ^ "8 must-have e-commerce tools for boosting revenues in 2021". Tech Republic. Retrieved 19 April 2021.
  29. ^ "Facetune maker Lightricks brings its popular selfie retouching features to video". TechCrunch. Retrieved 19 April 2021.
  30. ^ "Facetune maker's new app Filtertune let anyone create and share personalized photo filters". TechCrunch. Retrieved 19 April 2021.

External links[]

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