Beyoncé and her management company Parkwood Entertainment have invested $150,000 into Sidestep, an app for buying concert merchandise and skipping the line to pick it up at the show.
According to a new report, Sidestep originally started selling t-shirts and posters for Beyoncé on her Formation World Tour. After booming success after just two weeks, Beyoncé and Parkwood invested in Sidestep’s seed round of funding. Sidestep CEO Eric Jones says they
wanted Beyoncé’s tour to be very focused on tech”, and liked the idea of “a tiny scrappy startup doing the biggest tour in the world.
Beyoncé’s resume in business continues to grow. She previously invested in WTRMLN WTR, a watermelon beverage company. She also helped start vegan food company 22 Day Nutrition and is a stakeholder in streaming service Tidal.
With her investment in Sidestep she could directly help artists earn more money. Sidestep lets you order tour merchandise before, during, or even after the show from its smartphone app. You can then Sidestep the merch booth line, flash a QR code at the dedicated pickup spot, and grab your items. You can also have them delivered to your home. This way you can be sure to get whatever stuff you want in the right size with no fear of wasting time or it selling out.
Outside of Beyonce, Sidestep also has other investors including actor Jared Leto and former Lady Gaga manager Troy Carter.