Joining celebrity investors like Snoop Dogg, Ashton Kutcher, and Justin Bieber, Queen Bey is bringing her supreme business skills to the tech world. Beyoncé and the management company she started called Parkwood Entertainment have invested $150,000 into
Sidestep, an app for buying concert merchandise and skipping the line to pick it up at the show.
Sidestep originally started selling t-shirts and posters for Beyoncé on her Formation World Tour. But after two weeks of seeing its success, Beyoncé and Parkwood invested in Sidestep’s seed round of funding.
Sidestep CEO Eric Jones tells me they “wanted Beyoncé’s tour to be very focused on tech”, and liked the idea of “a tiny scrappy startup doing the biggest tour in the world.”
Beyoncé previously invested in WTRMLN WTR, a watermelon beverage company, and is believed to have ties to juicing machine maker Juicero. With her investment in Sidestep, though, she could directly help artists earn more money.