Company:Lightricks

From HandWiki
Short description: Software development company
Lightricks
TypePrivate
IndustrySoftware Development
Founded2013
HeadquartersJerusalem, Israel
Key people
Zeev Farbman
OwnerLightricks Ltd
Number of employees
600
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 approximately 600 employees.[4][5] As of 2023, its apps have been downloaded over 680 million times.[6][7]

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][8] Lightricks began life as a bootstrapped company, which was the subject of a case study from the Harvard Business School "Bootstrapping at Lightricks".[9]

The company received in 2015 its first funding round of $10 million led by Viola Ventures.[10][11] 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.[8] 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.[12][13][14] It puts the total raised to date at $205 million.[15][16] 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.[17]

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 Haifa, Beer Sheva, London and Chicago ; it has a total of approximately 600 employees.[18][4][19]

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.[20][21][22]

Products

Flagship Products

  • Facetune, a world renowned selfie editing app, which was named as Apple's most downloaded app in 2017.[23] In 2021 it was ranked as one of Apple's top-5 paid apps for the seventh consecutive year.[24]
  • Photoleap (formerly known as Photofox and Enlight), a general image editing app, which was preceded by Enlight Photofox.[25] The app allows the user to generate artwork to be shared on social media with a number of different editing options.[26] It was one of the first mobile applications to offer generative AI capabilities and text-to-image.[27]
  • Videoleap, a video editor.[28]
  • Popular Pays, an influencer marketing and content creation platform, acquired in 2022.[29]

Other Apps

  • Lightleap (formerly known as Quickshot), a pre-image viewer.[30]
  • 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.[31]
  • 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.[32] Integrated into Facetune.
  • 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.[33]

References

  1. ↑ "Lightricks proves the Start Up Nation is not just about Tel-Aviv". 18 March 2019. https://www.jpost.com/Jpost-Tech/Lightricks-proves-the-Start-Up-Nation-is-not-just-about-Tel-Aviv-583695. Retrieved 16 July 2019. 
  2. ↑ 2.0 2.1 2.2 "Calcalist's Top 50 Startups 2019: #11-#17". 8 May 2019. https://www.calcalistech.com/ctech/articles/0,7340,L-3761770,00.html. Retrieved 16 July 2019. 
  3. ↑ "Mobile photo connect : 10 questions to a founder : Lightricks". 11 October 2017. https://kaptur.co/mobile-photo-connect-10-questions-to-a-founder-lightricks/. Retrieved 16 July 2019. 
  4. ↑ 4.0 4.1 "Facetune Developer Lightricks to Open R&D Center in Haifa". 8 December 2019. https://www.calcalistech.com/ctech/articles/0,7340,L-3775310,00.html. Retrieved 4 March 2021. 
  5. ↑ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Haaretz. https://www.haaretz.com/israel-news/business/yet-another-israeli-unicorn-lightricks-raises-funds-at-1b-valuation-1.7610820. Retrieved 4 September 2019. 
  6. ↑ Hazani, Golan (2021-09-19). "Lightricks announces $130 million Series D at $1.8 billion valuation". https://www.calcalistech.com/ctech/articles/0,7340,L-3918047,00.html. 
  7. ↑ "PressKit". https://www.lightricks.com/about. 
  8. ↑ 8.0 8.1 "Enlight and Facetune creator Lightricks raises $60 million". 19 November 2018. https://venturebeat.com/2018/11/19/enlight-and-facetune-creator-lightricks-raises-60-million/. Retrieved 16 July 2019. 
  9. ↑ "Bootstrapping at Lightricks". https://www.hbs.edu/faculty/Pages/item.aspx?num=51678. Retrieved 16 July 2019. 
  10. ↑ "Israeli image editing app co Lightricks raises $60m". 19 November 2018. https://en.globes.co.il/en/article-israeli-image-editing-app-co-lightricks-raises-60m-1001261300. Retrieved 16 July 2019. 
  11. ↑ "Lightricks, The Creator Of Facetune, Lands $10M To Develop New Photo-Editing Apps". 12 August 2015. https://techcrunch.com/2015/08/12/lightricks/. Retrieved 16 July 2019. 
  12. ↑ "App developer Lightricks raises $135 million at a $1 billion valuation". 31 July 2019. https://venturebeat.com/2019/07/31/app-developer-lightricks-raises-135-million-at-a-1-billion-valuation/. Retrieved 31 July 2019. 
  13. ↑ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Haaretz. https://www.haaretz.com/israel-news/business/yet-another-israeli-unicorn-lightricks-raises-funds-at-1b-valuation-1.7610820. Retrieved 1 August 2019. 
  14. ↑ "The maker of popular selfie app Facetune just landed $135 million at a unicorn valuation". 31 July 2019. https://techcrunch.com/2019/07/31/the-maker-of-popular-selfie-app-facetune-just-landed-135-million-at-a-unicorn-valuation/. Retrieved 1 August 2019. 
  15. ↑ "Israeli software firm Lightricks raises $135 million at $1 billion valuation". 31 July 2019. https://www.reuters.com/article/us-tech-lightricks-fundraising-idUKKCN1UQ1FC. Retrieved 3 March 2021. 
  16. ↑ "App developer Lightricks raises $135 million at a $1 billion valuation". 31 July 2019. https://venturebeat.com/2019/07/31/app-developer-lightricks-raises-135-million-at-a-1-billion-valuation/. Retrieved 3 March 2021. 
  17. ↑ "Facetune maker Lightricks raises $130 million ahead of M&A plans". 20 September 2021. https://techcrunch.com/2021/09/20/facetune-maker-lightricks-raises-130-million-ahead-of-ma-plans/. Retrieved 31 October 2021. 
  18. ↑ "C-tech: Jerusalem-based Lightricks opens London office". https://ukisrael.biz/lightricks-opens-london-office/. Retrieved 16 July 2019. 
  19. ↑ "To keep creativity alive, Lightricks initiated its 'Creativity Festival'". 18 February 2021. https://www.calcalistech.com/ctech/articles/0,7340,L-3894471,00.html. Retrieved 4 March 2021. 
  20. ↑ "Apple reportedly asked devs to adopt subscriptions and hike app prices". 13 August 2018. https://venturebeat.com/2018/08/13/apple-reportedly-asked-devs-to-adopt-subscriptions-and-hike-app-prices/. Retrieved 16 July 2019. 
  21. ↑ "Leading developer Lightricks launches Facetune 2.0 to leverage Apple's app subscription model". 25 November 2016. https://venturebeat.com/2016/11/25/lightricks-launches-facetune-2-0-becoming-one-the-most-notable-developers-to-embrace-apples-app-subscription-model/. Retrieved 16 July 2019. 
  22. ↑ "Facetune is looking to prove that the subscription iPhone app model can work". 25 November 2016. https://www.vox.com/2016/11/25/13744358/iphone-app-facetune-goes-subscription. Retrieved 16 July 2019. 
  23. ↑ "Apple's most downloaded apps of 2017". 7 December 2017. https://mashable.com/2017/12/07/apple-most-popular-iphone-apps-2017/. Retrieved 16 July 2019. 
  24. ↑ Thompson, David (2021-12-17). "Facetune Apps Amass Over 30 Million iPhone Downloads in 2021" (in en). https://www.techtimes.com/articles/269508/20211217/facetune-apps-amass-over-30-million-iphone-downloads-in-2021.htm. 
  25. ↑ "Facetune maker's newest app, Enlight Photofox, is a powerful image editor". 6 July 2017. https://techcrunch.com/2017/07/06/facetune-makers-newest-app-enlight-photofox-is-a-powerful-image-editor/. Retrieved 16 July 2019. 
  26. ↑ "Testing photo editing apps: "Photofox: Digital Art"". https://www.dw.com/en/testing-photo-editing-apps-photofox-digital-art/a-54383002. Retrieved 19 April 2021. 
  27. ↑ Forristal, Lauren (2022-08-26). "Lightricks launches text-to-image generator" (in en-US). https://techcrunch.com/2022/08/26/mobile-photo-editing-app-creator-lightricks-launches-text-to-image-generator/. 
  28. ↑ "Enlight Videoleap". https://sensortower.com/ios/cn/lightricks-ltd/app/enlight-videoleap/1255135442/overview. Retrieved 16 July 2019. 
  29. ↑ "Lightricks acquires Popular Pays in deal valued at tens of millions of dollars" (in en). 2022-03-24. https://www.calcalistech.com/ctechnews/article/bkjgkttfq. 
  30. ↑ "Enlight Quickshot". https://sensortower.com/ios/ca/lightricks-ltd/app/enlight-quickshot/1254875992/overview. Retrieved 16 July 2019. 
  31. ↑ "8 must-have e-commerce tools for boosting revenues in 2021". https://www.techrepublic.com/article/8-must-have-e-commerce-tools-for-boosting-revenues-in-2021/. Retrieved 19 April 2021. 
  32. ↑ "Facetune maker Lightricks brings its popular selfie retouching features to video". 28 July 2020. https://techcrunch.com/2020/07/28/facetune-maker-lightricks-brings-its-popular-selfie-retouching-features-to-video/. Retrieved 19 April 2021. 
  33. ↑ "Facetune maker's new app Filtertune let anyone create and share personalized photo filters". 27 October 2020. https://techcrunch.com/2020/10/27/facetune-makers-new-app-filtertune-let-anyone-create-and-share-personalized-photo-filters/. Retrieved 19 April 2021. 

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