TikToker Khaby Lame sells part of Step Distinctive to Rich Sparkle for $975 million
Khaby Lame, the world’s most followed TikToker, has partnered with Rich Sparkle Holdings Ltd to complete one of the largest business transactions ever by an online creator.
According to incoming data BloombergLame is selling shares of his company, Step Distinctive Ltd., to Hong Kong-based firm Rich Sparkle.
The company plans to expand the 25-year-old creator’s influence by continuing brand collaborations and launching co-branded products in categories such as beauty, fragrance and clothing.
The deal marks a strategic shift in the way global creators monetize their influence, moving beyond traditional brand sponsorships and one-off advertising deals.
From sale value to future strategies — All about the deal
The transaction, which values Lame’s company at approximately $975 million, includes a partial acquisition of Lame’s business and Nasdaq-listed Rich Sparkle Holdings Ltd. It involves establishing a long-term commercial partnership with.
The multimillion-dollar deal gives the financial services firm exclusive global rights to manage and monetize Lame’s online presence for the next 36 months.
This means it will take on how its brand is used across platforms, effectively turning it from a traditional influencer into an “equity-backed creator,” according to the company’s statement.
It will also feature an artificial intelligence version of Lame that uses her expressions, voice and gestures to create multilingual social media content, according to the agency report.
Prior to acquiring Lame, Rich Sparkle focused primarily on financial printing and corporate services, primarily serving listed companies and institutional clients in Hong Kong.
Rich Sparkle’s shares are on the rise
Following the announcement, Rich Sparkle’s shares rose sharply and are currently trading at $63.01 on Nasdaq, up 18.84%.
The stock returned a staggering 188.11% last month and around 142% in the last six months. Over the past year, Rich Sparkle has emerged as a multibagger for investors, rising more than 1,690% according to data from the US stock market.
Who is Khaby Lame?
Italian-Senegalese citizen Khaby Lame has nearly 160 million followers on TikTok, while Charli d’Amelio has 156 million followers, the second highest on the platform.
He is also the founder of Step Distinctive Limited, an e-commerce, live streaming and content-driven commerce company based in the British Virgin Islands. The firm manages supply chain operations, brand agreements and digital content monetization.
Lame rose to fame during the COVID-19 pandemic by creating wordless videos that simplify daily life hacks. It has since built a global fan following of 360 million people on TikTok and Instagram, according to the statement.
The company said its commercialization of its influence among people and its popular online presence on social media platforms is expected to generate annual sales of more than $4 billion.
