Founded in 2015,
PrivyPlex Pte. Ltd. is a Singapore-based company that is creating proprietary fan-engagement platforms for Celebrities. PrivyPlex works with top sportspersons, actors, artists and performers in diverse spheres around the world and develops for them unique products to bring them closer to their fans.
Until now, celebrities had to rely on third-party platforms to nurture their fan communities. For the first time ever, PrivyPlex is empowering the celebrities to ‘own’ a platform where they can engage and interact with their fans with far greater intimacy and openness.
The start-up raised a seed funding from Dubai-based Elyseum Capital Partners in 2015.
GenesisThe two cofounders of PrivyPlex, Upmanyu Misra and Ahmed Arab, were batchmates in the Insead Business School class of 2010 and have remained close friends after their graduation. Following the graduation, Ahmed took up various marketing roles in top global technology companies, while Upmanyu took up investment banking roles. During a stint with Nokia, Ahmed saw a business opportunity in celebrity- branded products. Ahmed bounced the idea with Upmanyu, and the two enhanced and converted the initial idea to a far more ambitious business model – to develop digital solutions for celebrities to better engage with their fans.
Once the idea and business model was in place, Ahmed and Upmanyu set up PrivyPlex.
PrivyPlex is in talks with about half a dozen celebrities across the world. Later this year, they will announce partnerships with top celebrities from the US, Korea, India and South America.
OfferingsOn April 25, 2016, PrivyPlex announced the launch of Virat Fanbox, developed in partnership with Indian cricketer Virat Kohli. Virat Fanbox is the ultimate must-have kit for Virat’s fans and admirers. It offers direct and unprecedented access to Virat himself, both online and in real life.
Key Features & Point of DifferenceWith the launch of Virat Fanbox, PrivyPlex has created a new category from scratch.
Until now, celebrities rely on third-party platforms like Facebook or Twitter to engage with their fans. These platforms have many limitations of their own; forexample a celebrity cannot reach all of his fans every time on Facebook because theplatform by design limits the organic reach of posts. Also, these third-party platforms by design limit the level of intimacy and opennessthat a celebrity may desire with his or her fans.
For the first-time ever, PrivyPlex has developed a platform that is owned by the celebrity, and one that empowers the celebrity to engage and interact with their fans with greater intimacy and openness.
Funding StatusPrivyPlex has received a seed funding of USD 1.5M from Dubai-based Elyseum Capital Partners.
Monetization ModelPrivyPlex revenues come from FanBox sales and membership subscription by fans and supporters.
Traction DetailsVirat Fanbox went live for sale in May 2016. Early sales have been encouraging; and buyers are already looking forward to the first opportunity to meet Virat in Delhi later this month.
Future PlansFollowign the launch of Virat FanBox, PrivyPlex is currently looking to expand its team in India. The startup is also in talks with six top celebrities around the world and will soon be announcing more PrivyPlex products around the world.
Challenges facedThe beauty of a really good idea is that it is readily accepted. Our business model of developing digital solutions for global celebrities is one such idea. It is remarkable that all the celebrities we have spoken to about this idea – including the world’s top Footballers, F1 drivers, Basketball players and artists – have liked it.
The co-founders feel that their biggest challenge is to scale the company around the globe and realize their vision of re-inventing the way celebrities and their fans interact.
BW Reporters
This is Meghna Shukla. She lives in Delhi. She is an engineering graduate and currently pursuing MBA from Jaypee Business School. She has a work experience of 2 years in content development. She loves to read and write.
