Queen of pop, Beyoncé is joining her celebrity counter parts like Snoop Dogg, Ashton Kutcher, and Justin Bieber, to bring her money making skills to the tech universe.
Beyoncé and her management company, Parkwood Entertainment, have invested $150,000 in SideStep, an app used to buy concert merchandise and skip the line when a user wants to pick up such concert at a show.
Before now, SideStep was selling t-shirts and posters for Beyoncé on her Formation World Tour. After it’s remarkable success, Beyoncé and Parkwood decided to invest in SideStep’s seed funding round.
Queen Bey has also invested in WTRMLN WTR, a watermelon beverage company and is believed to have ties with juicing machine manufacturer Juicero, although the company has refused to speak about it just yet.
Mrs. Carter also helped start vegan food company 22 Day Nutrition in addition to being a stakeholder in Tidal – in which her husband Jay Z is the major stakeholder – thanks to her agreement to give it early access to her music.
Analysts and experts have suggested that her investment in SideStep could directly help artists earn more money.
The app lets you order tour merchandise before, during and after the show from your smartphone. You will then be able to, literally, sidestep the line at the merchandise booth, show a QR code at a dedicated pickup spot, and grab your items.
The startup has raised a total of $1.7 million from Beyoncé and other investors like Jared Leto, Troy Carter, Cross Culture Ventures, and the previous CEO of the LA Dodgers.