Leonardo DiCaprio is hoping to help the entertainment and media industry get a better understanding of what consumers want. The actor is investing in a software company called Qloo, that hopes to help companies sell their products to customers by targeting their needs and wants across eight major categories: music, film, television, dining, nightlife, fashion, books and travel.
CEO and founder Alex Elias told Vanity Fair’s Hive, that the “Revenant” actor “saw the potential and the market need within the entertainment space.” The company uses machine learning to help predict consumer taste, that could “provide movie producers with data to help with everything from casting to promoting films.”
The Oscar-winner is just one of many celebrity investors who are part of a new $4.5 million fundraising round. Other well known participants include Cedric the Entertainer, Danny Masterson, Starwood Capital founder Barry Sternlicht and real-estate tycoon and art collector Aby Rosen.
This investment is a departure for DiCaprio who usually likes to put his money behind eco-friendly start-ups such and Rubicon, Zuli or Diamond Foundry.