Lightricks News
38 articles
The company will simultaneously recruit 30 AI specialists as it refocuses its business.
Lightricks, the developer of the Facetune app, is undergoing a significant restructuring to focus on AI technologies. The company is laying off 85 employees while simultaneously recruiting 30 AI specialists. This move aims to enhance efficiency and concentrate on high-growth areas. The restructuring will take effect on November 3, with the company reorganizing into two main departments: one for AI model development and the other for B2C channel development. Lightricks aims to become a leader in AI, having launched the LTX Studio platform and AI-based video models. Despite the layoffs, the company will support affected employees in finding new jobs.
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Jerusalem unicorn lays off 85 employees as it reorganizes around its new AI video model.
Lightricks, a Jerusalem-based unicorn, is undergoing a significant internal reorganization, resulting in the layoff of 85 employees, approximately 15% of its workforce. This move is part of a strategic shift to focus on AI-driven creativity, particularly around its new AI video generation model, LTX-2. Despite the layoffs, the company is hiring 30 new employees for its AI division, which will become its largest department. The reorganization aims to position Lightricks as a global leader in AI video technology, with a focus on expanding B2B operations. The company has raised $335 million to date and reports an annual revenue run rate of $250 million.
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"It’s not just about speed or cost," added Yaron Inger at the Mind the Tech conference in London. "Our technology allows broader applications, like enhancing old films to 4K resolution. It also helps 3D artists create scenes efficiently, saving labor and time."
Lightricks, an Israeli company founded 12 years ago, showcased its innovative video AI model, LTXV, at the Mind the Tech London 2025 conference. The company has achieved significant success with hundreds of millions of downloads and an annual recurring revenue of $250 million. Lightricks LTXV model, released six months ago, offers creators precise control over video content while maintaining speed, setting it apart from competitors. The model is open source, encouraging community and academic use. Lightricks technology also enhances old films to 4K resolution and aids 3D artists in creating scenes efficiently. The companys advancements in AI technology are expected to drive further growth and innovation.
Text-to-video model produces high-quality clips in less time than playback.
Lightricks, an Israeli company, has launched LTX Video, a text-to-video model that produces high-quality videos faster than their playback time. Unlike other models requiring expensive computing resources, LTX Video can run on consumer-grade hardware and is available as open-source, making it accessible to AI enthusiasts and developers. The models rapid processing capabilities and open-source nature set it apart from competitors, allowing for fast workflows and potential applications in various fields such as gaming and online interactions. Lightricks emphasizes the importance of open-source models for fostering innovation and competition, contrasting with companies like OpenAI that restrict access to their models. The company aims to enhance its model further and maintain competitiveness by encouraging open collaboration.
"As we move beyond the hype and into practical applications, we're uncovering the true potential of this transformative technology," writes Zeev Farbman, Co-Founder and CEO at Lightricks.
The article discusses the current state and future potential of AI technology, focusing on the experiences and insights of Zeev Farbman, Co-Founder and CEO of Lightricks. Farbman reflects on the AI journey, noting a shift from inflated expectations to a more realistic understanding of AIs capabilities. He emphasizes the importance of the Gartner hype cycle in setting realistic expectations and highlights Lightricks commitment to leveraging AI for enhancing productivity and creativity. Despite recent disillusionment, Farbman remains optimistic about AIs transformative potential, advocating for a gradual and meaningful integration of AI into daily life. The article underscores the need for realistic expectations and enthusiasm for AIs future impact.
Unicorn Lightricks cutting 12% of workforce in second round of layoffs | CTech
Israeli company Lightricks is laying off 70 employees, which is 12% of its workforce. The layoffs will primarily affect the consumer applications division as the company shifts its focus to generative artificial intelligence products for enterprises. The company also plans to hire new AI experts, particularly in Israel. This is the second round of layoffs in two years, with the company previously laying off 80 employees in July 2022. The layoffs come after a fundraising round of $130 million at a valuation of $1.9 billion. Lightricks develops tools for content creators and recently launched LTX Studio, a GenAI product.
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לייטריקס הישראלית מפטרת 70 עובדים - 12% מכוח האדם שלה | כלכליסט
Israeli company Lightricks is laying off 70 employees, which is about 12% of its workforce. The layoffs are expected to focus on the companys consumer applications (B2C) as it shifts its focus to generative artificial intelligence (GenAI) products for organizations. At the same time, the company said it plans to recruit dozens of new AI experts, primarily in Israel. This is the second round of layoffs Lightricks has carried out in the last two years. In July 2022, the company laid off 80 employees, 70 of whom were in Israel. This came less than a year after the company raised $130 million at a valuation of $1.9 billion.
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Lightricks announces AI-powered filmmaking studio to help creators visualize stories | TechCrunch
Lightricks, the company behind popular apps like Facetune and Videoleap, has announced a new AI-powered filmmaking tool called LTX Studio. The tool allows creators to generate an AI-powered short clip to understand how a storyline would play out. The company has also been consolidating its products, folding features of products like Beatleap, Motionleap, and Filtertune into its main products such as Facetune, Photoleap, and Videoleap. Lightricks raised a Series D of $130 million in 2021 led by Insight Partners and acquired Popular Pays, a platform that connects brands with creators. The company laid off 12% of its staff in 2022 but has no plans for further cuts.
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Lightricks CEO: "Videos that used to take hours to produce can now be completed in a second" | CTech
Dr. Zeev Farbman, co-founder and CEO of Lightricks, spoke at Calcalists Tech TLV conference about the opportunities in the technology sector despite the challenging times. He highlighted the companys focus on content creation and the use of AI in their products. Farbman also mentioned the acquisition of an American company that connects brands with content creators. He predicted that the entire image editing field will undergo significant changes in the next two years due to advancements in AI. However, he also noted that Lightricks had to lay off 12% of its workforce.
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How one unicorn is adapting to a gen AI world - ISRAEL21c
Jerusalem-based Lightricks, a company specializing in image and video editing apps, has been ranked fifth in valuation by CB Insights on its list of 13 worldwide generative AI unicorns. The companys apps have been downloaded nearly 700 million times and claim more than 30 million monthly users. Lightricks is now focusing on incorporating AI tools into its products and using AI to increase productivity. The company has offices in Jerusalem, Beersheva, Haifa, Chicago, and London. However, last summer, about 70 Lightricks employees in Israel were laid off.
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Lightricks launches text-to-image generator
Lightricks, the creator of mobile photo editing apps, has introduced a new Text to Image generator in its apps, including Photoleap and Motionleap. This feature allows users to create AI-generated images via text prompts. The Israel-based startup is known for leveraging artificial intelligence technology to power a range of creative expression tools. The new feature is free to use and users can download as many of their AI image creations as they want. The user owns every image that is created with the generator, Lightricks says.
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App developer Lightricks lays off 70 in Israel
Lightricks, an Israeli video and image editing developer, is laying off 80 employees, including 70 in Israel, which is a 12% cut in its workforce. The company is preparing for a recession and is concerned about its Facetune app being considered a luxury product. The layoffs are across all departments, with a focus on marketing and operations. Lightricks aims to reduce overheads and focus on projects that promote the platform for content producers. The company has been growing rapidly and was seen as a potential candidate for an IPO. Lightricks is committed to supporting the employees who are leaving and helping them find new jobs.
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Lightricks Acquires Popular Pays, Empowering Creator Community to Monetize Content
Lightricks has announced the acquisition of Popular Pays, a software company that connects brands with creators for advertising campaigns. This acquisition is part of Lightricks strategy to become a single resource for creators and brands, offering advanced tools and monetization opportunities. The combination of Lightricks creator suite and Popular Pays tools will set the standard for the next generation of the creator economy. Popular Pays enables a more agile approach to advertising, allowing brands to produce content, streamline their work, and guide their brands strategy. Lightricks aims to change the game for creators by providing them with new levels of success and easy connections with brands. With the acquisition, Lightricks brings tens of millions of creators a direct connection to world-class brands.
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N12 - האפליקציה של לייטריקס בדירוג הפופולריות של אפל
The Facetune app, developed by Israeli company Lightricks, has been ranked 5th in Apples list of the most popular paid apps for 2021. Since its launch in 2013, the photo editing app has been downloaded over 116 million times on iPhones alone, with over 30 million active users. Lightricks has developed several other popular photo and video editing apps, with global influencers like Kim Kardashian and Chrissy Teigen endorsing their use. The success of Facetune reflects the growing trend of content creation and expression on social media platforms. In the paid app ranking, Facetune is preceded by TouchRetouch, the wonder weeks, HotSchedules, and Procreate Pocket. In the free app ranking, TikTok, YouTube, Instagram, Snapchat, and Facebook take the top spots.
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היוניקורן שכובש את המבנים ההיסטוריים של האוני' העברית
The Israeli company Lightricks, which specializes in creating image and video applications, is expanding its office spaces. The company, valued at $1.8 billion, has offices in Haifa, Shenzhen, and London, employing 450 people. However, the companys headquarters are located in the old Givat Ram campus of the Hebrew University in Jerusalem. The company currently rents 6,180 square meters, of which 2,500 square meters are in Beit Belgia. The companys expansion within a university campus marks an interesting evolution of the academic institution.
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Lightricks to build an 8,600 square feet R&D center in Haifa
Lightricks is building an R&D center in Haifa, Israel to reach a larger population in the north of the country. The company has already started hiring for the new center, which will operate alongside its headquarters and R&D center in Jerusalem. In the first phase, 35 employees will work in Haifa, with the expectation of expanding into additional fields. Lightricks recently raised $130 million at a valuation of $1.9 billion. The investment in Haifa is seen as a natural move due to the citys academic institutions and talented workforce.
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החברה הישראלית שמאחורי תוכנת הריטוש הפופולרית בעולם תחת אש
The article discusses the impact of photo editing apps like Facetune, developed by Israeli startup Lightricks, on the mental health of young people, particularly teenage girls. The app, which allows users to edit and retouch their selfies, has been linked to increased feelings of anxiety, depression, and body dissatisfaction. Despite these concerns, Lightricks has seen significant growth, with revenues expected to exceed $200 million this year. The company recently raised $130 million at a valuation of $1.9 billion and is planning to go public next year.
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Lightricks announces $130 million Series D at $1.8 billion valuation
Jerusalem-based content creation app developer Lightricks has closed a $130 million funding round at a $1.8 billion valuation. The round was co-led by Insight Partners and Hanaco Venture Capital, with participation from existing investors and new investors. This funding round is expected to be Lightricks final round before going public, either through a merger with a SPAC or a traditional IPO. Lightricks suite of mobile apps for image and video editing has over 500 million downloads worldwide. The company plans to use the funding to advance its technology and offerings.
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היוניקורן הירושלמי לייטריקס ממשיך לגדול: מגייס 45 עובדים למגוון משרות -
Lightricks, a Jerusalem-based tech company that develops mobile apps for photo and video editing, is currently hiring for various positions in both technical and non-technical fields. The company has opened 45 positions for recruitment. Lightricks was founded in 2013 and currently has around 450 employees in Jerusalem, Haifa, and London. It has developed advanced editing products for photos and videos, which are used by millions of users worldwide. The companys product portfolio includes popular apps like Facetune and apps for mobile art creation. Lightricks recently signed an agreement with a catering group to provide special menus and food options for its employees. The company continues to grow and has been hiring new employees and signing rental agreements for office spaces.
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From government to unicorn: Jerusalem's Lightricks names Shaul Meridor as new CFO
Israeli software company Lightricks has appointed Shaul Meridor, the former Head of the Israeli Finance Ministrys Budget Department, as its new CFO. Meridor will join Lightricks after his cooling-off period in September. Lightricks, known for its subscription-based content creation tools, has experienced rapid growth in recent years and has tripled its revenues annually. The company has also hired around 150 new employees in the past year. Meridors appointment is expected to contribute to Lightricks operational excellence and further growth.
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"It does something to see your co-workers in person and not just as pixels on the screen"
Lightricks CEO Zeev Farbman believes that companies will not rush to return to working regularly in offices even after the Covid-19 pandemic is over. He suggests that a new workplace status quo needs to be established that suits both employers and employees. Farbman explains that the hybrid model will be tested to determine what works and what doesnt. He also discusses the importance of maintaining innovation and social interactions in a remote work environment. Lightricks has implemented joint dinners as a way to promote social interactions among employees. Initially, it was challenging to convince employees to attend, but over time more people have shown interest.
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Lightricks Launches Beatleap: The First Musically-Driven Video Editing App for Instant, Seamless Audio and Video Synchronization
Lightricks Apps Win Apple & Google Awards, Rounding Out an Incredible Year
Facetune Developer Lightricks to Open R&D Center in Haifa
Lightricks Ltd., a Jerusalem-based content creation app developer, is opening a research and development center in Haifa. The company, known for its selfie-editing app Facetune, has raised $135 million in funding at a valuation of $1 billion. Lightricks plans to hire 150 more employees by the end of 2020 and is considering an IPO within the next two years.
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CTalk: Facetune Developer Lightricks Considering IPO Within 2 Years, Says CEO
Lightricks Ltd., the developer of Facetune, a selfie-editing app, is considering an initial public offering (IPO) within two years. The Jerusalem-based company recently completed a $135 million series C funding round at a valuation of $1 billion. Lightricks apps have been downloaded over 180 million times and have nearly 3 million paying subscribers. The CEO, Zeev Farbman, revealed the companys IPO plans during the Mind the Tech conference in Tel Aviv.
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App developer Lightricks raises $135 million at a $1 billion valuation
Jerusalem-based Lightricks has secured $135 million in series C funding at a $1 billion valuation led by Goldman Sachs, with participation from Insight Partners and ClalTech. The funding will accelerate AI-enhanced tool development, lay the groundwork for strategic acquisitions, and furnish a third office in Germany. Lightricks focuses on computational photography techniques and offers a suite of content creation apps. The company has 3 million paying subscribers and 180 million downloads worldwide, and its revenue has tripled each year over the past three years. Lightricks is considered a leader in the mobile app market.
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https://www.jpost.com/Jpost-Tech/Lightricks-proves-the-Start-Up-Nation-is-not-just-about-Tel-Aviv-583695
Lightricks, a start-up based in Jerusalem, has achieved global success with its range of mobile content creation applications. The companys apps, including Facetune and Enlight Pixaloop, have been downloaded over 110 million times. Lightricks has subsidiaries in New York and London and concluded 2018 with over $50 million in revenues. It recently secured $60 million in funding and plans to triple its earnings this year. The company aims to increase its workforce from 170 to 500 employees within two years. Lightricks is focused on democratizing creativity and aims to make professional workflows simple enough for non-professional users. The companys business model offers free app downloads with the option to pay for additional functionality. Lightricks hopes to co-exist with professional image editing platforms like Adobe Lightroom and Photoshop.
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Facetune Developer Aims to Double Workforce and Expand to Android
Israeli startup Lightricks Ltd. plans to double its workforce by hiring 150 people for various positions. The company develops image and video editing mobile applications and has over 100 million downloads and 1 million paying subscribers. Lightricks apps are currently only available on iOS, but the company plans to expand to Android. They estimate revenues of over $50 million for 2018 and expect to double that amount next year. Lightricks has raised $70 million from investors, including Insight Ventures.
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Enlight and Facetune creator Lightricks raises $60 million
Lightricks, the Jerusalem-based startup behind Facetune and Enlight, has raised $60 million in a funding round led by Insight Venture Partners. The companys apps have garnered over 100 million downloads globally, with the most recent addition, Enlight Pixaloop, attracting 6 million users and 200,000 subscribers in just two months. The funding will be used to acquire shares from founders, employees, and investors, as well as to double the size of the team. Lightricks focuses on computational photography techniques and has developed an in-house mobile advertising platform. The company offers a suite of free apps with in-app paid subscription plans. Lightricks expects to exceed $50 million in revenue this year and $100 million in 2019.
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Jerusalem-Based Content Creation Startup Lightricks to Set Up Shop in Europe
Lightricks Ltd., the developer of selfie touch-up app Facetune, is expanding its operations with a new London office. The company, which currently has over 100 employees, plans to hire designers, developers, and programmers for the new office. Amit Shabtay, a former product manager at Lightricks, will lead the London office. Lightricks, founded in 2013, is known for its content creation smartphone apps, with Facetune winning an Apple Design Award in 2016. In 2015, the company raised $10 million from Viola Ventures.
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Enlight Videoleap Wins Apple's iPhone App of the Year Award
Jerusalem-based startup Lightricks Ltd., the creator of Enlight Videoleap, has been named as one of the winners of Apples 2017 iPhone App of the Year award. The video editing app won in dozens of countries from Asia to Latin America. This is not the first time Lightricks has been recognized by Apple, having won the Apple Design Award for a photo editing app last year. The company, which was founded in 2013, has reported two million monthly downloads for Enlight Videoleap.
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App for journalists: Enlight Videoleap, for editing video packages on your smartphone
Enlight Videoleap is a video editing app that allows journalists to produce engaging videos on the go. The app is free to use, with an option to upgrade to a Pro version for additional editing features. Journalists can add photos and videos from their camera roll to a timeline, customize the length and transitions of each media piece, and add text, audio, filters, and effects. The app also offers advanced editing options like layering, chroma key function, and mixing videos together. Once the editing is complete, users can save the project to their camera roll and directly upload it to social media. The article provides a tutorial on how to use the app effectively.
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http://www.jpost.com/Business-and-Innovation/Jerusalem-start-up-unveils-next-generation-of-iOS-photo-editing-app-501933
Lightricks, a Jerusalem start-up, has launched its new photo editing app, Enlight Photofox. The app introduces a new layers system and is tailored for the mobile creative community. Lightricks is known for its successful premium creativity apps, Facetune and Enlight. The company was bootstrapped before raising funds from Carmel Ventures. Lightricks has experienced significant growth, expanding its team to over 80 employees. The new app, Photofox, is available for free on the App Store.
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memoji - Gizmodo
The article discusses various technology updates and features announced by Apple, including iOS updates, avatar creators, and an Android update that allows AirDrop with devices that arent nearby. The article also mentions the introduction of animojis and photo effects by Apple. The key theme of the article is the advancements and improvements in Apples technology offerings. The structured issues discussed in the article are related to customers and partners. The article does not mention any specific customers or partners. The date of the event described in the article is not provided. The confidence level of the answer is 8.
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How Facetune and Enlight became top photo apps
Jerusalem-based Lightricks, known for its photo apps Facetune and Enlight, has experienced growth in a crowded app category. Facetune, the top photo app in the U.S., offers easy-to-use retouching capabilities, while Enlight focuses on making smartphone photography look professional. Lightricks has raised over $10 million in capital from Carmel Ventures and attributes its success to its proximity to engineering talent. The company has a large pool of talent to attract the best people from.
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How the makers of Facetune raked in ~ $18 million in 2 years and caught Facebook's eye
Lightricks, the maker of popular smartphone photo-editing app Facetune, has generated millions of dollars in profitable revenue. The company recently received a $10 million venture investment from Israeli firm Carmel Ventures to hire more people and develop new products. Rumors suggest that Lightricks may be acquired by Apple or Facebook due to its valuable technology, including a graphics engine and mobile advertising software. Apple has a history of acquiring Israeli companies, while Facebook has been using Lightricks ad prediction software for its mobile ads. Lightricks success has made it a poster child for Facebooks mobile ad business. The company is focused on computer graphics and is not currently considering selling its ad software as a product.
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Lightricks, The Creator Of Facetune, Lands $10M To Develop New Photo-Editing Apps
Lightricks, the startup behind Facetune, has raised $10 million in its first external funding round. The Jerusalem-based company plans to focus on developing its image processing technology and expanding its team. Lightricks revenue run rate is currently $10 million, and it has sold over five million copies of Facetune and Enlight. The company follows a unique business model, selling its products instead of offering them for free or through freemium models. Lightricks success demonstrates that users are willing to pay for high-quality editing tools. The funding round was led by Carmel Ventures, who praised Lightricks proprietary technology and track record of creating desirable products.
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Facetune: A Simple Editor for Your Selfies
The article discusses the Facetune app, which allows users to edit photos to enhance their appearance. It highlights the simplicity and effectiveness of the app in making users look their best. The impact on the company is growth-positive. The key theme of the article is photo editing. The key issue discussed is acquiring new customers. No specific partners, customers, valuation amount, acquisition amount, or investment amount are mentioned in the article. The article does not mention any layoffs or management changes. The date of the event described in the article is not provided. Confidence level: 8
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