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Lightricks

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Lightricks
Company typePrivate
IndustrySoftware Development
Founded2013
HeadquartersJerusalem, Israel
Key people
Zeev Farbman
OwnerLightricks Ltd
Number of employees
600
Websitelightricks.com

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

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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

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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

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Flagship Products

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  • Facetune, a world renowned selfie editing app, which was named as Apple's most downloaded app in 2017.[24] In 2021 it was ranked as one of Apple's top-5 paid apps for the seventh consecutive year.[25]
  • Photoleap (formerly known as Photofox and Enlight), a general image editing app, which was preceded by Enlight Photofox.[26] The app allows the user to generate artwork to be shared on social media with a number of different editing options.[27] It was one of the first mobile applications to offer generative AI capabilities and text-to-image.[28]
  • Videoleap, a video editor.[29]
  • Popular Pays, an influencer marketing and content creation platform, acquired in 2022.[30]
  • LTX Studio, an AI powered platform for video generation, pre-production storyboarding and post-production edits.[31] [32]

Other Apps

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  • Lightleap (formerly known as Quickshot), a pre-image viewer.[33]
  • Motionleap (formerly known as Pixaloop), an image animation tool created in 2018 where one can animate otherwise-still elements of a picture in different ways.
  • Beatleap, an audio-first video editing tool. The app features music by Epidemic Sound.
  • Artleap (formerly known as QuickArt), a photo editing tool.
  • Seen, a story making tool.
  • Boosted (formerly known as BoostApps), a graphic design template tool aimed towards social media marketing.[34]
  • Facetune Video, a selfie-retouching video tool that allows users to retouch and edit their selfie and portrait videos in real time using a set of A.I.-powered tools.[35] Integrated into Facetune.
  • Filtertune, a photo filter tool designed to create a community around custom photo filters. With the app, creators can make their own personalized preset photo filters, then share them across social media as photos with a QR code attached.[36]

References

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  1. ^ "Lightricks proves the Start Up Nation is not just about Tel-Aviv". The Jerusalem Post. 18 March 2019. Retrieved 16 July 2019.
  2. ^ a b c "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. ^ a b "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. ^ a b "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. ^ Mehta, Ivan (2024-02-28). "Lightricks announces AI-powered filmmaking studio to help creators visualize stories". TechCrunch. Retrieved 2024-07-22.
  32. ^ Lapidot, Omri Keren (2024-02-29). "Lightricks LTX Studio - AI Video Generator with Most Extensive 'Manual' Controls Yet". CineD. Retrieved 2024-07-22.
  33. ^ "Enlight Quickshot". Sensor Tower. Retrieved 16 July 2019.
  34. ^ "8 must-have e-commerce tools for boosting revenues in 2021". Tech Republic. Retrieved 19 April 2021.
  35. ^ "Facetune maker Lightricks brings its popular selfie retouching features to video". TechCrunch. 28 July 2020. Retrieved 19 April 2021.
  36. ^ "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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