Los Angeles, 25 April 2024 (TDI): Beauty firm KIKI World gets $7M investment. Esteemed investors including Andreessen Horowitz crypto fund (a16z Crypto), The Estée Lauder Companies’ New Incubation Ventures (NIV), and Orange DAO are joining forces to propel KIKI World’s revolutionary approach.
KIKI, a community commerce company launched in early 2023. Through its blockchain platform, the brand engages its online community of more than 12,000 members to “co-create” the beauty products that they want.
Co-creation, which involves actively involving customers in the product development phase to a greater extent than conventional user testing, is becoming a widely adopted approach for brands to engage with shoppers.
In a joint statement, Jana Bobosikova, Brendon Garner, and Ricky Chan, KIKI’s co-founders, said: “Brand websites are valuable for not only selling but also educating, and KIKI’s innovative platform strategically takes brand.com capabilities a step further to leverage community and drive creativity as trends rapidly emerge.
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KIKI sees the internet and the communities it connects as the engine that creates, not merely consumes, the brands and products that will define the next generation and are building tools to make this elevated customer experience a reality.”
Beauty company KIKI World independently financed a year of development before its launch and experienced rapid growth in 2023.
The company was chosen to participate in A16z’s Crypto Startup School accelerator from a pool of over 8,000 applicants. Following this milestone, KIKI World aimed to broaden its horizons and initially targeted a fundraising goal of $5 million.
Commencing in April 2024, KIKI will introduce a new suite of platform tools and applications. These innovations will empower creators, brands, and enthusiasts to establish meaningful connections and initiate engaging campaigns driven by their communities. Additionally, these advancements will support KIKI’s line of product offerings.
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Beauty firm KIKI World leverages blockchain-enabled profiles and collectibles to foster direct connections between peers and provide dynamic rewards. It incorporates robust discovery mechanisms and community management utilities prioritizing rewards for fans.
Additionally, its platform APIs facilitate the development of engagement campaigns driven by incentives and rewards focused on conversions, thereby harnessing the energy of passionate individuals.
KIKI is building a radically new company across its on-chain, online, and real-world ecosystem, inspiring user-centric data ownership, participation rewards, and innovation for the next generation of creators and customers.
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