Billionaires Jim Breyer and Thomas Tull are leading a $15 million bet that Genies’ avatars will be the next big thing in social by bizcarson
Grammy ad of groups like Florida Georgia Line singing their hit"Simple" in their avatar form. Then there's a roster of other startups, from Boo to Zepeto, that are competing with Genies around the globe.
While Bitmoji is probably the most-established and well-known company in the category, its success also got it acquired by a big tech company. Competing as a standalone social company is increasingly harder as companies like Facebook either try to buy small or build their own clone. Just last week, Facebookto use in Messenger and Newsfeed comments, starting in Australia and rolling out globally by the end of the year.
Genies is taking a three-pronged approach to the business: building an app for consumers, working with brands on advertising through its talent agency and then building a software kit to let other app makers integrate Genies. Within its consumer app, brands are paying Genies to give people the option to wear Gucci hats or New Balance sneakers with the hopes of converting Genies' young audience into fans.
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