Lightricks Explained

Lightricks
Type:Private
Industry:Software Development
Founded:2013
Key People:Zeev Farbman
Hq Location:Jerusalem, Israel
Owner:Lightricks Ltd
Num Employees:600

Lightricks, founded in January 2013, is a company that develops video and image editing mobile apps and software, 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]

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.[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. 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.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, 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

Other Apps

Notes and References

  1. Web site: Lightricks proves the Start Up Nation is not just about Tel-Aviv. The Jerusalem Post. 18 March 2019 . 16 July 2019.
  2. Web site: Calcalist's Top 50 Startups 2019: #11-#17. Calcalist. 8 May 2019 . 16 July 2019.
  3. Web site: Mobile photo connect : 10 questions to a founder : Lightricks. Kaptur . 11 October 2017. 16 July 2019.
  4. Web site: Facetune Developer Lightricks to Open R&D Center in Haifa. Calacalist . 8 December 2019. 4 March 2021.
  5. News: Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation. Haaretz . 4 September 2019.
  6. Web site: Hazani. Golan. 2021-09-19. Lightricks announces $130 million Series D at $1.8 billion valuation. 2021-12-19. CTECH - www.calcalistech.com.
  7. Web site: PressKit . 2023-08-30 . www.lightricks.com.
  8. Web site: Mehta . Ivan . 2024-02-28 . Lightricks announces AI-powered filmmaking studio to help creators visualize stories . 2024-02-29 . TechCrunch . en-US.
  9. Web site: Enlight and Facetune creator Lightricks raises $60 million. Venture Beat. 19 November 2018 . 16 July 2019.
  10. Web site: Bootstrapping at Lightricks. Harvard Business School. 16 July 2019.
  11. News: Israeli image editing app co Lightricks raises $60m. Globes. 19 November 2018 . 16 July 2019.
  12. Web site: Lightricks, The Creator Of Facetune, Lands $10M To Develop New Photo-Editing Apps. TechCrunch. 12 August 2015. 16 July 2019.
  13. Web site: App developer Lightricks raises $135 million at a $1 billion valuation. Venture Beat. 31 July 2019 . 31 July 2019.
  14. News: Yet Another Israeli Unicorn: Lightricks Raises Funds at $1b Valuation. Haaretz. 1 August 2019.
  15. Web site: The maker of popular selfie app Facetune just landed $135 million at a unicorn valuation. TechCrunch. 31 July 2019 . 1 August 2019.
  16. News: Israeli software firm Lightricks raises $135 million at $1 billion valuation. Reuters. 31 July 2019. 3 March 2021.
  17. Web site: App developer Lightricks raises $135 million at a $1 billion valuation. VentureBeat. 31 July 2019. 3 March 2021.
  18. Web site: Facetune maker Lightricks raises $130 million ahead of M&A plans. Techcrunch. 20 September 2021. 31 October 2021.
  19. Web site: C-tech: Jerusalem-based Lightricks opens London office . UK Israel Business . 16 July 2019 . 11 January 2021 . https://web.archive.org/web/20210111082954/https://ukisrael.biz/lightricks-opens-london-office/ . dead .
  20. Web site: To keep creativity alive, Lightricks initiated its 'Creativity Festival'. Calacalist . 18 February 2021. 4 March 2021.
  21. Web site: Apple reportedly asked devs to adopt subscriptions and hike app prices. Venture Beat. 13 August 2018 . 16 July 2019.
  22. Web site: Leading developer Lightricks launches Facetune 2.0 to leverage Apple's app subscription model. Venture Beat. 25 November 2016 . 16 July 2019.
  23. Web site: Facetune is looking to prove that the subscription iPhone app model can work. Vox . 25 November 2016. 16 July 2019.
  24. Web site: Apple's most downloaded apps of 2017. Mashable. 7 December 2017 . 16 July 2019.
  25. Web site: Thompson. David. 2021-12-17. Facetune Apps Amass Over 30 Million iPhone Downloads in 2021. 2021-12-19. Tech Times. en.
  26. Web site: Facetune maker's newest app, Enlight Photofox, is a powerful image editor. TechCrunch. 6 July 2017 . 16 July 2019.
  27. Web site: Testing photo editing apps: "Photofox: Digital Art" . DW. 19 April 2021.
  28. Web site: Forristal . Lauren . 2022-08-26 . Lightricks launches text-to-image generator . 2023-09-04 . TechCrunch . en-US.
  29. Web site: Enlight Videoleap . 16 July 2019 . Sensor Tower.
  30. Web site: 2022-03-24 . Lightricks acquires Popular Pays in deal valued at tens of millions of dollars . 2023-09-04 . ctech . en.
  31. Web site: Mehta . Ivan . 2024-02-28 . Lightricks announces AI-powered filmmaking studio to help creators visualize stories . 2024-07-22 . TechCrunch . en-US.
  32. Web site: Lapidot . Omri Keren . 2024-02-29 . Lightricks LTX Studio - AI Video Generator with Most Extensive 'Manual' Controls Yet . 2024-07-22 . CineD . en-US.
  33. Web site: Enlight Quickshot . Sensor Tower . 16 July 2019.
  34. Web site: 8 must-have e-commerce tools for boosting revenues in 2021 . Tech Republic. 19 April 2021.
  35. Web site: Facetune maker Lightricks brings its popular selfie retouching features to video . TechCrunch. 28 July 2020 . 19 April 2021.
  36. Web site: Facetune maker's new app Filtertune let anyone create and share personalized photo filters. TechCrunch. 27 October 2020 . 19 April 2021.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Lightricks".

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