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Lightricks

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Lightricks, founded in January 2013,[1] is a company that develops video and image editing mobile apps,[2] known particularly for its selfie-editing app, Facetune.[3] Headquartered in Jerusalem, the firm has over 250 employees.[4] As of 2019, its apps have been downloaded over 180 million times and have over 3 million paying subscribers.[5]

Lightricks
Private
IndustrySoftware Development
Founded2013
HeadquartersJerusalem, Israel
Key people
Zeev Farbman
Products
Revenue$50 million (2018)
OwnerLightricks Ltd
Number of employees
250
Websitelightricks.com

HistoryEdit

The company was created in 2013[2] by 5 founders, Ph.D. students Zeev Farbman, Nir Pochter, Yaron Inger, Amit Goldstein, and former Supreme Court of Israel clerk Itai Tsiddon[6] 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 "Bootstrapping at Lightricks".[7]

The company received in 2015 its first funding round of $10 million led by Viola Ventures.[8] [9]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.[6] 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[10][11] [12]

Lightricks ended 2018 with over $50 million in revenue.[2]

OperationsEdit

After beginning in the Hebrew University campus, the company outgrew its space a number of times. It remains based in Jerusalem, Israel, with R&D offices in London, Germany and New York City; it has a total of over 250 employees.[13]

Once Apple Inc allowed it,[14][15] Lightricks was one of the first app companies to offer subscriptions. Most of its apps are now published under a freemium model. .[16]

ProductsEdit

  • Facetune.[17], now superseded by Facetune2[18], Apple's most downloaded app in 2017.[19] one of Google's best apps of 2014.
  • Enlight, a general image editing app,[20], now supeseded by Enlight Photofox[21][22]
  • Enlight Quickshot, a pre-image viewer.[23]
  • Enlight Videoleap, a video editor[24] a 2017 iPhone App of the Year.[25]
  • Enlight Pixaloop, an image animation tool[26]
  • Swish, a social marketing tool.[27]

ReferencesEdit

  1. ^ "Lightricks proves the Start Up Nation is not just about Tel-Aviv". 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. ^ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Ha'aretz. Retrieved 4 September 2019.
  5. ^ "App developer Lightricks raises $135 million at a $1 billion valuation". VentureBeat. Retrieved 4 September 2019.
  6. ^ a b "Enlight and Facetune creator Lightricks raises $60 million". Venture Beat. Retrieved 16 July 2019.
  7. ^ "Bootstrapping at Lightricks". Harvard Business School. Retrieved 16 July 2019.
  8. ^ "Israeli image editing app co Lightricks raises $60m". Globes. Retrieved 16 July 2019.
  9. ^ "Lightricks, The Creator Of Facetune, Lands $10M To Develop New Photo-Editing Apps". TechCrunch. Retrieved 16 July 2019.
  10. ^ "App developer Lightricks raises $135 million at a $1 billion valuation". Venture Beat. Retrieved 31 July 2019.
  11. ^ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Ha'aretz. Retrieved 1 August 2019.
  12. ^ "The maker of popular selfie app Facetune just landed $135 million at a unicorn valuation". TechCrunch. Retrieved 1 August 2019.
  13. ^ "C-tech: Jerusalem-based Lightricks opens London office". UK Israel Business. Retrieved 16 July 2019.
  14. ^ "Apple reportedly asked devs to adopt subscriptions and hike app prices". Venture Beat. Retrieved 16 July 2019.
  15. ^ "Leading developer Lightricks launches Facetune 2.0 to leverage Apple's app subscription model". Venture Beat. Retrieved 16 July 2019.
  16. ^ "Facetune is looking to prove that the subscription iPhone app model can work". Vox. Retrieved 16 July 2019.
  17. ^ "Facetune". Sensor Tower. Retrieved 16 July 2019.
  18. ^ "Facetune2". Sensor Tower. Retrieved 16 July 2019.
  19. ^ "Apple's most downloaded apps of 2017". Mashable. Retrieved 16 July 2019.
  20. ^ "Enlight". 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. ^ "iOS: Worldwide BEST OF 2017 apps for iPhone, iPad, Apple Watch and Apple TV". Starry Reviews. Retrieved 16 July 2019.
  26. ^ "Enlight Pixaloop". Sensor Tower. Retrieved 16 July 2019.
  27. ^ "Swish". Sensor Tower. Retrieved 16 July 2019.

External linksEdit