Kesha seeks seed funding for her 'LinkedIn-like' startup
Synopsis
Kesha, the popstar known for hits like "Tik Tok," is venturing into the tech world with Smash, a community-based platform designed to connect and protect music creators. Inspired by her own experiences with a predatory record deal, Smash aims to empower artists by providing a space for collaboration, hiring, and retaining full rights to their creations.
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Time of India
37 minutes ago
- Time of India
Part toy, part fashion, the arrival of the viral Labubu was a long time in the making
HighlightsLabubu, a plush toy designed by artist and illustrator Kasing Lung, has become a viral sensation after its initial release in 2015, with growing popularity fueled by celebrity endorsements and social media trends. Pop Mart, the company behind Labubu, experienced a remarkable increase in revenue, with a 1,200% rise in plush toy sales contributing significantly to its overall revenue growth in 2024. The demand for Labubu has led to supply shortages, causing long lines and even altercations at stores, prompting Pop Mart to temporarily suspend in-store and blind box machine sales in the United Kingdom. Labubu, the plush toy from China's Pop Mart is a social media darling, but the toothy little monsters are far from an overnight success. Having appeared a decade ago, Labubus may have finally cemented their place in the collectible toy market for years to come. The Labubu, by artist and illustrator Kasing Lung , first appeared with pointed ears and pointy teeth, in three picture books inspired by Nordic mythology in 2015. In 2019 Lung struck a deal with Pop Mart, a company that caters to toy connoisseurs and influencers, to sell Labubu figurines. But it wasn't until Pop Mart started selling Labubu plush toys on key rings in 2023 that the toothy monsters suddenly seemed to be everywhere, including in the hands of Rihanna, Kim Kardashian and NBA star Dillon Brooks. K-pop singer Lisa of Blackpink began posting images of hers for her more than 100 million followers on Instagram and on TikTok, where Labubu pandemonium has broken out. There are 1.4 million # Labubu TikTok posts and counting, videos of fans unboxing them, showing styles inspired by them, and of course, Labubu cosplay. Fans have latched on to Labubu's mashup of play and fashion, making them accessories on handbags, backpacks and belts, or hanging them from car mirrors. "The character has evolved into a collectible and style symbol, resonating with fans who connect with its quirky aesthetic and unique backstory," Emily Brough, Popmart's head of IP licensing in the Americas, said. Labubu has been a bonanza for Pop Mart. Its revenue more than doubled in 2024 to 13.04 billion yuan ($1.81 billion), thanks in part to its elvish monster. Revenue from Pop Mart's plush toys soared more than 1,200% in 2024, nearly 22% of its overall revenue, according to the company's annual report. Aside from their ability to pique the interest of toy aficionados and fashionistas, Labubu latched on to the blind box phenomenon , where the purchaser doesn't know exactly which version of the plush toy they'll get. And Pop Mart made sure there is a Labubu for everyone, regardless of income. Most are priced in a wide rage between $20 and $300, with certain collaborations or limited editions priced higher, according to Brough. Unlike many toys, Labubu devotees include a large number of adults. Buyers ages 18 and over drove a year-over-year increase of more than $800 million in the U.S. toy market in 2024, according to market research firm Circana. Adult shoppers, mostly female, bought the toys for themselves. In 2025's first quarter, toy sales for those ages 18 and over rose 12% from the prior-year period. At $1.8 billion, adults also accounted for the highest spending among all age groups in the quarter. Like many retailers, Pop Mart is actively monitoring negotiations between the U.S. and just about every one of its trading partners as prices may be impacted. The situation with China is at the forefront, with President Donald Trump saying on Friday that the country "violated" an agreement with the United States on trade talks. Right now Pop Mart, whose products are manufactured across Asia, says that it is continuously scaling production and expanding distribution across its online shop, retail stores and blind box vending machines to meet increasing demand. Short supply has led to long lines at stores and at least one physical fight at a shopping center in the United Kingdom. Pop Mart said in an Instagram post late last month that it was temporarily suspending all in-store and blind box machine sales in the U.K. Peter Shipman, head of Europe, said in a Facebook post that the company is currently working on a new method to distribute toys to stores. Resellers have become problematic and many Labubu fans are still willing to pay exorbitant price markups. Kena Flynn was at The Grove shopping center in Los Angeles recently when she stumbled upon some Labubus being sold at a kiosk. Flynn said in a TikTok on Sunday that the prices were "really bad," but her boyfriend bought two anyway. "At a certain point, you can't buy them," Flynn said in her video. "I just want a Labubu and I cannot buy one from Pop Mart, so here we are." Looking to keep up with the overwhelming demand, Pop Mart says it's on track for 50 more retail locations in the U.S. by the end of the year. That'll give shoppers more chances to hunt for Labubus, as Pop Mart says it's planning multiple new Labubu releases tied to seasonal moments and holidays throughout the rest of the year.
Mint
2 hours ago
- Mint
Billionaire Naguib Sawiris scales back Moniify, ambitious ‘TikTok generation' aimed venture — here's why
Egyptian billionaire Naguib Sawiris' Moniify, described as 'CNBC for the TikTok generation' and was launched with great pomp in Dubai late last year, is scaling back operations just months later, Bloomberg reported. The report noted that Moniify was meant to be a culmination of Sawaris' (worth $8.4 billion), five decades in business and a second shot in the media business. A new media platform, billed as 'CNBC for the TikTok generation', Moniify aimed to share with the ambitious youth the 'secrets' to building wealth — drawing from Sawaris' years of experience building his own empire. The venture was launched in November 2024, and began hiring staff from New York to the Middle East at good packages. The report noted that initial consensus was that the company would make losses, but had 'reassurance of deep pockets' from its owner. Speaking at the launch, 70-year-old Sawaris said, 'At my age, you start thinking 'I need to do something for my legacy, something to give back to society'. So with all the money we spent on Moniify, it gets booked under this section.' 'Young people were always asking me how they could also become rich. So I thought, ok, why not provide a tool, a platform that gives everything in a package to help these young people achieve their dreams. I always like to give back to society and better to give to the young, to the millennials. That was the motive,' he said in a video for Moniify. According to the Bloomberg report citing sources, Sawaris appeared to have a 'change of heart', starting with slashes in budget and promotion, followed by layoffs in January 2025, then CEO Micheal Peters (formerly with Euronews) left, and was replaced with Sawaris' daughter Lana. Staff received no explaination, it added. Omar Al-Ghazzi, associate media and communications professor at the London School of Economics and Political Science told the publication that a huge barrier is how to attract the young while striking a 'balance between innovation and cringe'. Spokespeople for Sawaris did not repond to queries, while Peters declined to comment, the report added. The sources said Sawaris was unprepared for the cash burn — estimated to be tens of millions of dollars, and the fact that there was no clear path to profits. They added that the mogul was in Dubai early in 2025 and sought help for business planning and monetisation from journalists at an internal meeting — indicating that he was out of the loop. Weeks after launch the venture was scaled back and layoffs began — especially hitting those who relocated to the UAE and now had strict visa requirements to meet. Sawaris' daughter Lana took over after Peters departure. She has prior experience as a digital communications manager for Christian Louboutin and Art Director of Kith. At present, Moniify is only generating short media format and written content focused on personal finance. In a recent video she said: 'Finance, business, entrepreneurship — it should all be entertaining too.' (With inputs from Bloomberg)
India.com
2 hours ago
- India.com
What is Labubu dolls? A fashion trend that Ananya Panday and Rihanna are obsessed with
What is Labubu dolls? A fashion trend that Ananya Panday and Rihanna are obsessed with In a fast-moving world of fashion, trends change every season. Some trends emerge out of nowhere and capture the attention of millions like never before. One such trend that is currently making waves is Labubu, it's a small, wide-eyed doll with has a mischievous look. Emerged from a character from a fantasy series, it soon became a global fashion trend adored by fashion enthusiasts and celebrities. For the longest time, Barbie dolls have stood out as a cultural icon as a children's companion and a means of imagination. But now this Labubu doll is creating a buzz not just amongst kids but also celebrities like Ananya Panday, Rihanna. Dua Lipa and more. This toy doll was created in 2015 by a Hong Kong artist called Kasing Lung. He took inspiration from Nordic fairy tales and ancient European elf legends and eventually created Labubu as part of his fantasy series called The Monster. Lung was away from the video games and other computer games; therefore, he spent most of his time sketching and drawing dolls and telling stories through visuals. Finally, in 2019, Labubu entered the toy market through a collaboration with the Chinese brand Pop Mart. Besides being a toy, this doll is now available in many forms, like figures, keychains, plush toys, and special holiday editions with scarves and gloves. However, what's currently capturing the attention of everyone is the usage of this toy as a handbag accessory. This doll came into the spotlight after BLACKPINK's Lisa first donned a bag that had this doll hanging out of her bag. Later, Bollywood actress Ananya Panday, pop star Rihanna, and Dua Lipa were also seen embracing this trend, making it clear that it wasn't just a toy, it was also a pop culture fashion. Another reason why this doll has been taking the limelight is that this toy is usually sold in 'blind boxes.', which is a surprising element because buyers don't know which version is inside. His surprise factor has made unboxing videos go viral on platforms like TikTok and Instagram. Each doll typically costs around $20 to $30 (approximately ₹1,600 to ₹2,500), depending on the edition and type. This Labubu doll isn't just a toy, it's a nostalgia for childhood dreams, global designs, and modern fashion.
