Beyonce Invests In Merch App
Who runs the world? Beyonce, apparently. The entertainment mogul is now expanding her empire to include the tech world. Earlier this week, Beyonce invested in
Who runs the world? Beyonce, apparently. The entertainment mogul is now expanding her empire to include the tech world. Earlier this week, Beyonce invested in concert t-shirt tech startup Sidestep.
What Is Sidestep?
Sidestep is a new app that allows concertgoers to purchase merchandise before the show so they can avoid the long lines at the venue. Sidestep has gained popularity in the past few months and now has officially gotten the attention of Queen B. Things are only looking up for Sidestep as Beyonce just invested $150,000 in the app.
Sidestep CEO Eric Jones told TechCrunch that “[Beyonce’s team] wanted [her] tour to be very focused on tech,” and that the singer liked the idea of a relatively small tech startup being a part of such a large-scale tour.
This isn’t Beyonce’s first swing in the tech game. She’s also a stakeholder in the subscription streaming service, Tidal. As she is coming off of her world tour, selling merchandise and concert tickets is definitely top of mind. Perhaps with this new move, she along with other superstars like Weezer, Fall Out Boy and Guns N’ Roses, may have the power motivate fans to purchase more merchandise through their support of Sidestep.
To date, Sidestep has raised $1.7 million, from investments from other big-name artists, like Jared Leto. The app has raked in more than $2 million in sales.
One thing’s for sure, the Sidestep celebrity bandwagon is in full force. We predict this to be just one of many precursors to a more tech-focused sales method for apparel merchandisers.