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Lightricks

From EverybodyWiki Bios & Wiki







Lightricks
Engine
    Websitelightricks.com

    Search Lightricks on Amazon.

    Lightricks was founded in January 2013 by four Ph.D. students[1] and a Supreme Court clerk[2]. Lightricks develops video and image editing mobile apps,[3] including the selfie-editing app Facetune and the visual media editing app family Enlight. They have different photo/video editing apps available on the App Store and/or Google Play.[4] Headquartered in Jerusalem, the company has over 100 employees.[5] It is valued at US$1 billion.[6]

    History

    The company was created in 2013[3] by 5 founders - Ph.D. students Zeev Farbman, Nir Pochter, Yaron Inger, Amit Goldstein, and former Supreme Court of Israel clerk Itai Tsiddon[7] who were all studying at Hebrew University of Jerusalem. Lightricks began life as a bootstrapped company and this was the subject of a case study from the Harvard Business School called Bootstrapping at Lightricks.[8]

    The company first received funding in 2015.[9] Based in Jerusalem, Israel with an R&D office in London and New York City, Lightricks ended 2018 with over $50 million in revenue.[3] As of 2019, its apps have been downloaded over 160 million times and have over 3 million paying subscribers.[10]

    Funding

    Lightricks was bootstrapped until 2015 when it received its first funding round of $10 million led by Viola Ventures.[11] The company 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 at a $1 billion valuation led by Goldman Sachs, with participation from Insight Partners and ClalTech.[12][13]

    Operations

    After beginning in the Hebrew University campus, the company outgrew its space a number of times and has now opened a New York and London office for business development and research.[14] The company also utilizes the talent emerging from Jerusalem's Bezalel Academy of Arts and Design and computer science students from the Hebrew University of Givat Ram.[2]

    Once Apple Inc allowed it,[15][16] Lightricks was one of the first app companies to offer subscriptions. Lightricks’ Facetune became the paradigm of this new model.[17]

    Products

    Recognition

    • App Store's Best of 2013[27]
    • Google's best apps of 2014.[28]
    • Apple's most downloaded app in 2017.[29]
    • iPhone App of the Year 2017.[30]

    References

    1. ↑ "How the makers of Facetune raked in ~ $18 million in 2 years and caught Facebook's eye". Business Insider. Retrieved 16 July 2019.
    2. ↑ 2.0 2.1 "Lightricks proves the Start Up Nation is not just about Tel-Aviv". Jerusalem Post. Retrieved 16 July 2019.
    3. ↑ 3.0 3.1 3.2 "Calcalist's Top 50 Startups 2019: #11-#17". Calcalist. Archived from the original on 14 May 2019. Retrieved 16 July 2019.
    4. ↑ "Mobile photo connect : 10 questions to a founder : Lightricks". Kaptur. Retrieved 16 July 2019.
    5. ↑ "Jerusalem-Based Content Creation Startup Lightricks to Set Up Shop in Europe". Calcalist. Retrieved 22 July 2019.
    6. ↑ "The maker of popular selfie app Facetune just landed $135 million at a unicorn valuation". TechCrunch. Retrieved 1 August 2019.
    7. ↑ 7.0 7.1 "Enlight and Facetune creator Lightricks raises $60 million". Venture Beat. Archived from the original on 31 July 2019. Retrieved 16 July 2019.
    8. ↑ "Bootstrapping at Lightricks". Harvard Business School. Retrieved 16 July 2019.
    9. ↑ "Lightricks, The Creator Of Facetune, Lands $10M To Develop New Photo-Editing Apps". TechCrunch. Retrieved 16 July 2019.
    10. ↑ "Jerusalem-Based Startup Lightricks Raises $60m for Photos, Video Apps". No Camels. Retrieved 16 July 2019.
    11. ↑ "Israeli image editing app co Lightricks raises $60m". Globes. Retrieved 16 July 2019.
    12. ↑ "App developer Lightricks raises $135 million at a $1 billion valuation". Venture Beat. Archived from the original on 31 July 2019. Retrieved 31 July 2019.
    13. ↑ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Ha'aretz. Retrieved 1 August 2019.
    14. ↑ "C-tech: Jerusalem-based Lightricks opens London office". UK Israel Business. Archived from the original on 11 January 2021. Retrieved 16 July 2019.
    15. ↑ "Apple reportedly asked devs to adopt subscriptions and hike app prices". Venture Beat. Archived from the original on 3 September 2019. Retrieved 16 July 2019.
    16. ↑ "Leading developer Lightricks launches Facetune 2.0 to leverage Apple's app subscription model". Venture Beat. Archived from the original on 29 October 2020. Retrieved 16 July 2019.
    17. ↑ "Facetune is looking to prove that the subscription iPhone app model can work". Vox. Retrieved 16 July 2019.
    18. ↑ "Facetune". Sensor Tower. Retrieved 16 July 2019.
    19. ↑ "Enlight". Sensor Tower. Retrieved 16 July 2019.
    20. ↑ "Facetune2". Sensor Tower. Retrieved 16 July 2019.
    21. ↑ "Enlight Photofox". Sensor Tower. Retrieved 16 July 2019.
    22. ↑ "Facetune maker's newest app, Enlight Photofox, is a powerful image editor". TechCrunch. Retrieved 16 July 2019.
    23. ↑ "Enlight Quickshot". Sensor Tower. Retrieved 16 July 2019.
    24. ↑ "Enlight Videoleap". Sensor Tower. Retrieved 16 July 2019.
    25. ↑ "Enlight Pixaloop". Sensor Tower. Retrieved 16 July 2019.
    26. ↑ "Swish". Sensor Tower. Retrieved 16 July 2019.
    27. ↑ "Apple Posts "Best of 2013" iTunes Lists". Mac Stories. Retrieved 16 July 2019.
    28. ↑ "Facetune makes your ugliest selfies look beautiful". CNN Money. Retrieved 16 July 2019.
    29. ↑ "Apple's most downloaded apps of 2017". Mashable. Retrieved 16 July 2019.
    30. ↑ "iOS: Worldwide BEST OF 2017 apps for iPhone, iPad, Apple Watch and Apple TV". Starry Reviews. Archived from the original on 9 December 2020. Retrieved 16 July 2019.

    External links

    Category:Mobile software Category:IOS software Category:Photo software Category:Software companies of Israel Category:Apps articles by quality Category:Companies based in Jerusalem Category:Software companies established in 2013 Category:Technology companies established in 2013 Category:2013 establishments in Israel

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