Meero
| Company type | Privately held company |
|---|---|
| Industry | Internet |
| Founded | 2014 in Paris, France |
| Founder | Guillaume Lestrade, Thomas Rebaud |
Key people | Gaétan Rougevin Baville (CEO) |
Meero is a French start-up founded in 2014 by Thomas Rebaud and Guillaume Lestrade that develops software solutions for creating and enhancing visual content based on artificial intelligence. Historically, it was a marketplace specialized in photographic outsourcing. This initial mode of operation was criticized for its “Uberization” of the photography profession.
The Photographers Marketplace (2014-2022)
[edit]History
[edit]Meero originally offered a platform connecting photographers with businesses. It also developed a suite of tools (accounting, CRM, marketing) for photographers, as well as a range of services for this group, notably through a foundation. The company aims to build a community of professional photographers and serves as a platform to manage their photo shoots from the beginning to post-production.[1] The company claimed operations in 100 countries and 58,000 registered photographers.[2]
By September 2017, Meero had raised $15 million in Series A funding. This round of funding was led by Alven Capital with participation from WhiteStar Capital and existing investors GFC and Aglae.[3]
In July 2018, Meero closed a $45 million Series B round of funding led by Alven Capital, which renewed its investment, and Idinvest.[4]
The company announced its Series C round of funding on the 19th of June, 2019. The capital infusion of US$230 million was led by venture capital firms Eurazeo Growth and Prime Ventures, with participation by Avenir Growth, GR Capital, Global Founders Capital, Alven, Aglae Ventures, White Star Capital and Idinvest Partners.[5]
Following the Covid crisis, the company saw its business model collapse and proceeded with several waves of layoffs. By the end of 2022, the workforce had halved. From February 11, 2023, it was no longer possible to book photo shoots, confirming the end of Meero’s photographer marketplace activity.[6]
Market Positioning
[edit]After its 2019 fundraising, the company was labeled a unicorn by numerous French and international media. Meero was also part of the Next40 in 2020, 2021, and 2022. However, the robustness of its economic model was considered unclear both at its start and after its second fundraising. The company left the Next40 in 2023.
The company claims to offer computerized post-production and an automatic retouching service driven by internally developed artificial intelligence technology, which sparked reactions from professionals who value the unique perspective of each photographer.
Criticism of the Operating Model
[edit]Meero is referred to by some professionals as the “Uber of photography” [7] due to the low rates offered to non-salaried photographers employed as contractors.
In addition to the low rates, several photographers and lawyers denounce a clause in the company’s contracts, which requires photographers to waive their copyright, including their moral rights, and prevents them from claiming authorship of the photos.
Technology
[edit]Artificial Intelligence (AI): Meero has invested in an AI capable of processing photo shoots in a few seconds, when currently a 60-minute photo shoot would require several hours of editing.[8] [9]
AI Software Offering (2022-)
[edit]At the end of 2022, CEO and co-founder Thomas Rebaud was replaced by Gaétan Rougevin-Baville, who became President and CEO of the company.[6] The company then completely ceased its photographer marketplace activity and focused on developing software solutions for creating and enhancing visual content based on artificial intelligence.
To achieve this pivot, it acquired Autoretouch,[10] a German software company in the fashion industry, and Carcutter,[11] an Austrian software company in the automotive industry.
References
[edit]- ^ Montero, Reysel (2019-06-19). "'Meero' Ventures In AI Technology For Photo-Enhancing Processes". Z6 Mag. Retrieved 2019-06-20.
- ^ "Meero raises $230 million for its on-demand photo platform". TechCrunch. 19 June 2019. Retrieved 2019-06-20.
- ^ FinSMEs (2017-09-08). "Meero Raises €15M in Series A Funding". FinSMEs. Retrieved 2019-06-20.
- ^ "Meero raises $45 million to set up largest image-dedicated AI center in France". Alven. 2018-07-12. Retrieved 2019-06-20.
- ^ Dillet, Romain (18 June 2019). "Meero raises $230 million for its on-demand photo platform". Techcrunch. Retrieved 2024-05-22.
- ^ a b O'Brien, Chris (2022-12-16). "The Unraveling Of Meero". Frenchtech Journal. Retrieved 2024-05-22.
- ^ Melcher, Paul (2019-10-27). "The ubertification of photography". Kaptur. Retrieved 2024-05-21.
- ^ Anfray, Adeline. "From Startup To Unicorn: How Meero Is On Its Way To Achieving This Coveted Rank". Forbes. Retrieved 2019-06-20.
- ^ D Calp, Arya. "Photo Editing". Retrieved 2023-11-20.
- ^ Gerhardt, Janina (2022-01-20). "Autoretouch goes to French unicorn". Startbase. Retrieved 2024-05-21.
- ^ "CarCutter General Information". Pitchbook. 2022-01-01. Retrieved 2024-05-21.