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Cameo was once valued at $1B
In 2021, Cameo reached a $1 billion valuation, but it has since fallen on hard times, according to a settlement agreement.
In 2021, the company reached a $1 billion valuation following a $100 million investment after the app — which allows people to pay celebrities for short video messages — became a phenomenon during the coronavirus pandemic. Cameo's dire cash straits were disclosed in a settlement agreement made public Wednesday by the office of New York Attorney General Letitia James. According to the settlement agreement, New York and the other states involved are permitted to go after Cameo for the full $600,000 — plus interest — if it can't pay the $100,000 in the next three years.
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