Jake Paul, actor and social media star, just raised $1 million dollars in funding for TeamDom, his company dedicated to promoting and incubating internet talent and their content projects. China’s Danhua Capital, which focuses on early- and growth-stage investments, led the funding. Other investors included Horizons Alpha’s Edward Lando, Vayner Capital’s Gary Vaynerchuk, and Adam Zeplain.
Paul, who is TeamDom’s founder and CEO, plans to use the money to recruit more talent and staff, produce branded content, and to develop a TV show.
“Social media isn’t just an alternative to traditional media — it’s turning the traditional model on its head and totally shaking up how consumers make decisions,” he said. “We know the world of social inside and out, and we offer unprecedented expertise, scale and process for this lucrative new frontier.”
And if there’s one thing that Paul knows it’s social media. Currently he has 4.1 million followers on Instagram, 1.8 million on YouTube, and 1 million on Twitter. The 20-year-old, who rose to fame on Twitter’s now-defunct Vine is the younger brother of Logan Paul, another big social-media star and actor.
TeamDom is based in West Hollywood and currently has 10 full-time employees. The company also runs a talent incubator, Team Fuze, that identifies emerging talent, and Team X, an agency built to bridge the gap between American influencers and China’s closed-off social media ecosystem.
Dovey Wan, managing director at Danhua Capital, expressed his faith in Paul’s Venture, “TeamDom is the only player in the marketing space that has this new paradigm baked into its original source — not only a vast network of young influencers but a mighty facilitator to help more young talents rise up.”