The famous rapper and performer widens his horizons by partnering and investing with Klarna. Klarna is a Swedish financial technology giant that specializes in providing online financial services. These include direct payments and payment solutions for online storefronts. Callum Burroughs of Business Insider reports that the company started in Stockholm in 2005. As of 2015, its value has increased to $2.5 billion.
Calvin Broadus, popularly known as the artist Snoop Dogg, just became a minority shareholder in the company. According to Oliver Smith of Forbes, the size of deal and investment remains undisclosed both by the artist and the business. Following his investment and partnership, he has also become the face of Klarna, thus earning him the nickname ‘Smooth Dogg’ in the recent marketing campaign.
Snoop’s Motivation to Invest
Smith reports that Broadus has been working with various European telecommunication companies and high fashion brands in the past. With his partnership with Klarna, he looks to expand his investments and grow his portfolio further. Forbes also notes that this is Broadus’ secondary investment.
Previous investments by the artist include Eaze, a company operating a marijuana delivery business in California. Here, Broadus was considered an angel investor as the company was in its early stages. Snoop Dogg also has investments in Robinhood, a commission-free trading application, Merry Jane, and Reddit.
Creating Marketing Strategies
Millionaire rapper Snoop Dogg is no stranger to the industry. With years of experience under his belt, Klarna tapped him in the hopes of letting his charisma rub off on the business. Klarna’s ‘Get Smooth’ campaign featured the rapper in a series of YouTube videos.
According to Forbes, the company is excited to have Broadus on his team. CEO Sebastian Siemiatkowski feels that Snoop Dogg’s passion for his work and art makes him the perfect face of Klarna.
Smith notes that Snoop Dogg is excited to work with the brand and collaborate with them for future marketing strategies. He hopes to provide the company with advice and help align their vision with strategies that many people can identify with.