African American musician, John Legend is venturing into startup business with his social app, “It’s Good” which has raised $5 million in funding so far.
This is according to a report seen by Nairametrics in the Wall Street Journal. The app has already received backing as it is gearing up to open to the public. Earlier this month, it raised $5 million in a funding round, participants included Lightspeed Venture Partners.
The musician’s startup, “It’s Good” will provide its users with personalized food and travel recommendations from their social circles — making it a future competitor with the likes of Yelp and Google Reviews.
The “All of Me” singer, John Legend decided to found the company during the COVID-19 pandemic alongside Mike Rosenthal, his co-founder and tech entrepreneur, who was connecting virtually and attempting to recall and share their past travel experiences.
- “We are looking at a real-world problem that has not been solved really since Yelp first started, which was 20-something years ago,” Rosenthal stated.
- ‘It’s tremendously satisfying to discover a great new place yourself and then share your delight with others,” said Lightspeed Partner Nicole Quinn.
- “That’s why I see such enormous potential in It’s Good and a key reason why Lightspeed is leading the company’s $5 million seed round.”
Lightspeed Venture Partners’ portfolio includes other celebrity startups such as Goop (Gwyneth Paltrow), HAUS LABS (Lady Gaga), and Autograph (Tom Brady).
As It’s Good transitions from invite-only to forming its community, the company will focus on growth rather than revenue. Additionally, the team is looking to potentially partner with hospitality and food companies shortly.
What you should know
John Legend, 44, started tilting towards his entrepreneur side at the beginning of the year. In February 2023, the EGOT winner dropped Loved01, his skincare line, according to Men’s Health.
For his unisex skincare line, Legend teamed up with dermatologist Dr Naana Boakye. The mission behind the brand is to bring inclusivity to melanin complexions in the skincare market.
- “I didn’t want it to just be a celebrity brand,” Legend said. “It wasn’t until A-Frame approached me that I saw the vision for why I would want to do this: one, meeting a need that wasn’t being addressed very well in the marketplace, formulating for melanin-rich skin, and two, making it accessible.”
John Legend is a popular American singer and a multiple award-winning artist. In February 2022 he got involved with NFTs, co-founding the music and art NFT platform, OurSong.
