Lightricks

Last updated
Lightricks
Company typePrivate
IndustrySoftware Development
Founded2013
HeadquartersJerusalem, Israel
Key people
 Zeev Farbman
OwnerLightricks Ltd
Number of employees
600
Website lightricks.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 730 million times. [6] [7] In 2024, Lightricks introduced LTX Studio, a platform for creating and editing videos using AI. [8]

Contents

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] [9] Lightricks began life as a bootstrapped company, which was the subject of a case study from the Harvard Business School "Bootstrapping at Lightricks". [10]

The company received in 2015 its first funding round of $10 million led by Viola Ventures. [11] [12] 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. [9] 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. [13] [14] [15] It puts the total raised to date at $205 million. [16] [17] 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. [18]

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. [19] [4] [20]

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. [21] [22] [23]

Products

Flagship Products

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References

  1. ↑ "Lightricks proves the Start Up Nation is not just about Tel-Aviv". The Jerusalem Post. 18 March 2019. Retrieved 16 July 2019.
  2. 1 2 3 "Calcalist's Top 50 Startups 2019: #11-#17". Calcalist. 8 May 2019. Retrieved 16 July 2019.
  3. ↑ "Mobile photo connect : 10 questions to a founder : Lightricks". Kaptur. 11 October 2017. Retrieved 16 July 2019.
  4. 1 2 "Facetune Developer Lightricks to Open R&D Center in Haifa". Calacalist. 8 December 2019. Retrieved 4 March 2021.
  5. ↑ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Haaretz. Retrieved 4 September 2019.
  6. ↑ Hazani, Golan (2021-09-19). "Lightricks announces $130 million Series D at $1.8 billion valuation". CTECH - www.calcalistech.com. Retrieved 2021-12-19.
  7. ↑ "PressKit". www.lightricks.com. Retrieved 2023-08-30.
  8. ↑ Mehta, Ivan (2024-02-28). "Lightricks announces AI-powered filmmaking studio to help creators visualize stories". TechCrunch. Retrieved 2024-02-29.
  9. 1 2 "Enlight and Facetune creator Lightricks raises $60 million". Venture Beat. 19 November 2018. Retrieved 16 July 2019.
  10. ↑ "Bootstrapping at Lightricks". Harvard Business School. Retrieved 16 July 2019.
  11. ↑ "Israeli image editing app co Lightricks raises $60m". Globes. 19 November 2018. Retrieved 16 July 2019.
  12. ↑ "Lightricks, The Creator Of Facetune, Lands $10M To Develop New Photo-Editing Apps". TechCrunch. 12 August 2015. Retrieved 16 July 2019.
  13. ↑ "App developer Lightricks raises $135 million at a $1 billion valuation". Venture Beat. 31 July 2019. Retrieved 31 July 2019.
  14. ↑ "Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation". Haaretz. Retrieved 1 August 2019.
  15. ↑ "The maker of popular selfie app Facetune just landed $135 million at a unicorn valuation". TechCrunch. 31 July 2019. Retrieved 1 August 2019.
  16. ↑ "Israeli software firm Lightricks raises $135 million at $1 billion valuation". Reuters. 31 July 2019. Retrieved 3 March 2021.
  17. ↑ "App developer Lightricks raises $135 million at a $1 billion valuation". VentureBeat. 31 July 2019. Retrieved 3 March 2021.
  18. ↑ "Facetune maker Lightricks raises $130 million ahead of M&A plans". Techcrunch. 20 September 2021. Retrieved 31 October 2021.
  19. ↑ "C-tech: Jerusalem-based Lightricks opens London office". UK Israel Business. Archived from the original on 11 January 2021. Retrieved 16 July 2019.
  20. ↑ "To keep creativity alive, Lightricks initiated its 'Creativity Festival'". Calacalist. 18 February 2021. Retrieved 4 March 2021.
  21. ↑ "Apple reportedly asked devs to adopt subscriptions and hike app prices". Venture Beat. 13 August 2018. Retrieved 16 July 2019.
  22. ↑ "Leading developer Lightricks launches Facetune 2.0 to leverage Apple's app subscription model". Venture Beat. 25 November 2016. Retrieved 16 July 2019.
  23. ↑ "Facetune is looking to prove that the subscription iPhone app model can work". Vox. 25 November 2016. Retrieved 16 July 2019.
  24. ↑ "Apple's most downloaded apps of 2017". Mashable. 7 December 2017. Retrieved 16 July 2019.
  25. ↑ Thompson, David (2021-12-17). "Facetune Apps Amass Over 30 Million iPhone Downloads in 2021". Tech Times. Retrieved 2021-12-19.
  26. ↑ "Facetune maker's newest app, Enlight Photofox, is a powerful image editor". TechCrunch. 6 July 2017. Retrieved 16 July 2019.
  27. ↑ "Testing photo editing apps: "Photofox: Digital Art"". DW. Retrieved 19 April 2021.
  28. ↑ Forristal, Lauren (2022-08-26). "Lightricks launches text-to-image generator". TechCrunch. Retrieved 2023-09-04.
  29. ↑ "Enlight Videoleap". Sensor Tower. Retrieved 16 July 2019.
  30. ↑ "Lightricks acquires Popular Pays in deal valued at tens of millions of dollars". ctech. 2022-03-24. Retrieved 2023-09-04.
  31. ↑ "Enlight Quickshot". Sensor Tower. Retrieved 16 July 2019.
  32. ↑ "8 must-have e-commerce tools for boosting revenues in 2021". Tech Republic. Retrieved 19 April 2021.
  33. ↑ "Facetune maker Lightricks brings its popular selfie retouching features to video". TechCrunch. 28 July 2020. Retrieved 19 April 2021.
  34. ↑ "Facetune maker's new app Filtertune let anyone create and share personalized photo filters". TechCrunch. 27 October 2020. Retrieved 19 April 2021.
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