When it comes to smart investments, Justin Timberlake is one to watch. The music superstar has a knack for identifying the next big thing, and his latest venture has got everyone talking.
In 2021, Timberlake joined forces with a group of high-profile celebrities to invest in Canadian tech company 1Password. The company, which specializes in secure password management, saw its valuation skyrocket to $6.8 billion following the investment, cementing its position as one of the hottest players in the industry. With big names like Pharrell Williams, Ryan Reynolds, Scarlett Johansson and Robert Downey Jr. also on board, it's clear that Timberlake is not alone in recognizing the potential of this innovative tech company.
He started investing as his solo career was taking off in the early 2000s. Here is a look at some of his investments over the years.
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William Rast: Back in 2005, Timberlake teamed up with his buddy Trace Ayala to start a company called William Rast. The name comes from combining their grandfathers' names — William Bomar and John Rast — and they wanted to create clothes that had a timeless look. Their main focus was on casual denim outfits with some rough-and-tumble accessories. Timberlake was inspired by greats like Jerry Lee Lewis, Johnny Cash, Elvis Presley and Frank Sinatra. According to Forbes, this fashion label was killing it and making $50 million a year until 2012.
Tennman Records: In 2007, Timberlake started Tennman Records with Interscope Records. The name is a reference to Timberlake’s roots in Tennessee, where he grew up. Timberlake brought on Ken Komisar to be the president of the label. Komisar formerly was vice president of artists and repertoire at Sony Music Entertainment. Timberlake signed some notable artists to Tennman Records, including Matt Morris, FreeSol and Brenda Radney.
Miso Media: In 2010, Timberlake invested in a wide range of companies, including Miso Media. This investment was part of the company's seed round, which marked an important milestone in the development of the tech startup.
Miso Media is a music technology company that creates cutting-edge mobile apps to educate and empower aspiring musicians. Its flagship product, featured on “Shark Tank,” was an interactive guitar learning app that offered users step-by-step instruction and real-time feedback.
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Shazam Entertainment Ltd.: Timberlake was an early investor in Shazam Entertainment Ltd., the company behind the popular music identification app Shazam. He first invested in 2013, alongside other renowned investors Carlos Slim Helu, Andrew Black and Kleiner Perkins.
He was a longtime user and fan of the app and believed the technology had the potential to transform the music industry. Timberlake also saw the investment as an opportunity to support a British company and contribute to the growth of the U.K. tech industry.
Timberlake partnered with Shazam on various projects. In 2013, he premiered a song called “Take Back The Night” via its platform and offered fans exclusive content access. He also collaborated with the company on a promotion for his 2018 Super Bowl halftime performance, which offered fans access to exclusive content and prizes.
In 2018, Apple Inc. acquired Shazam for an estimated $400 million. Timberlake's financial involvement in the acquisition is not publicly known, but it's likely that he saw a return on his investment through the sale.
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Stipple Inc.: Timberlake was a 2012 investor in Stipple, a technology company that enables online publishers to tag and monetize their images. Stipple's technology allows publishers to add interactive tags to their images, which can be used to provide additional information about products, people or places featured in the image. With Timberlake’s help, Stipple quickly became one of the most successful startups in Silicon Valley at the time.
Eaze: Timberlake has been an avid supporter of the cannabis delivery app Eaze. The singer-songwriter/actor has held a stake in the company since it was founded in 2014 and continues to be involved with its operations today. Timberlake has used his celebrity status to bring attention to this up-and-coming marijuana delivery service, appearing in its promotional campaigns on social media.
In addition to his public support, Timberlake provided financial backing for Eaze. He helped finance the company’s $9.1 million seed round in 2017 and recently contributed additional funding toward its Series C fundraising round.
8AM Golf: Since 2020, Timberlake has been a partner with 8AM Golf, a collection of brands that strives to support and celebrate the golf industry. He recently took on a role leading creative initiatives across its family of brands. Some of these brands include GOLF Magazine, GOLF.com and Nicklaus Cos. LLC.
In 2022, Timberlake and his partners at 8AM Golf made an investment in 3's. It's an innovative concept in golf entertainment that combines par-3 golf with hospitality and entertainment amenities for both golfers and nongolfers to enjoy. Founded by Davis Sezna, a pro in the restaurant and hospitality scene, the first 3's location opened in Greenville, South Carolina, in 2020. Now that it’s part of the 8AM Golf portfolio, the company is planning to bring the concept to more cities across the United States.
1Password: In 2021, Timberlake and celebs like Williams, yan Reynolds, Johansson, Downey., Matthew McConaughey and Chris Evans made headlines for investing in the Canadian company 1Password during a $620 million Series C round.
The Ugly Co.: Timberlake’s latest investment is in The Ugly Co., which focuses on reducing food waste. It takes fruits that might not look pretty and turns them into dried-fruit snacks. Flavors include cherry, nectarine, apricot, peach and kiwi.
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