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“Reinventing creativity through technology” |
| Founded: 2013, Jerusalem, Israel
Category: Application Software Primary office: Jerusalem, Israel Core technical team: Jerusalem, Israel Status: Private Employees: 255 Amount raised:USD$ 205million (3 rounds – July 2019) |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
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Sells
- Monthly Subscriptions that allows users to filter and edit content
- Enterprise Software for creating Video Ads for businesses
- Multi-channel photo and video software
Channels
- Mobile based – Product is on App Marketplace
- Freemium based software, offer of free trial and then subscription based model
- User friendly interface compatible with social media platforms and can be used for digital marketing
- Integrator Partners; Apple integrates software into devices
Competencies
- Expert Design Community
- High level of technical expertise in Artificial intelligence to apply different enhancement techniques to each element of the image for highly-contextual effects.
- Product platform is available in 12 different languages
Distinct AI Features
Type
- Deep neural networks
- Supervised learning
AI use
- The company is advancing neural networks by using facial recognition in addition to 3D modelling to apply filter effects on selected points of photo and videos consistently such that lightweight neural networks containing AI powered algorithms are proactive to provide seamless, quick and interactive user experience. Clients are able to fine-tune selfies by adjusting their proportions and manipulate lighting.
AI useRate of return on customer’s investment to make AI work
- Immediate: Free trial, user friendly and multiple presets to use on software for easy adaptability by novices
- Long term: Subscription based model, updates can be stressful for users
Databases
- Large database of computer vision, computer graphics, and image processing activity logs
Quantum Computing
- N/A
Resources
Assets
- Technology Ecosystem; Partnership with technology companies like Instagram and Apple
- Data; Market Surveys to monitor use and client activity on app
- R&D on computational photography techniques
Processes
- Product is available online and on mobile platforms
- Multichannel interface
Priorities
- Increase customer base and profitability
- Expand partnership networks
- Strategic Acquisitions and grow company across borders
References
- Lighttricks.2020. https://www.lightricks.com/
- Schieber. J. 2020. NewBidders reportedly emerge for TikTok in the US as powerful critics assail the process. TechCrunch https://techcrunch.com/2020/07/28/facetune-maker-lightricks-brings-its-popular-selfie-retouching-features-to-video/.
- Rao, P. 2020. Glossy. https://www.glossy.co/beauty/the-company-behind-facetune-goes-after-beauty-influencers-and-small-businesses.
- 2020. Organization. https://www.crunchbase.com/organization/lightricks
- Business Wire. 2020. https://www.businesswire.com/news/home/20200708005658/en/Lightricks-Launches-%E2%80%9CQuickart%E2%80%9D-Turn-Images-Photos-Digital
Contributors
- Damilola Balogun