Jay-Z and Will Smith will be teaming up to produce a new Airbnb camping app called #Hipcamp.
The new company announced it had accepted $25 million in its latest round of investment, which is reportedly from JAY-Z’s Marcy Venture Partners and Will Smith’s Dreamers VC fund.
Marcy Venture Partners is co-founded by Jay himself, Jay Brown, and Larry Marcus. “Hipcamp is on the forefront of culture, creating meaningful and joyful experiences with the outdoors,” said Marcus. “While mobile devices and technology enables their marketplace of unique camping sites, Hipcamp experiences provide a welcome respite from those very devices. Their ethos of creating an inclusive community that values the environment, preservation, and the great outdoors makes them an ideal partner to our firm. We are thrilled to be partnered with Alyssa and the team to help grow their business.”
The app was created as a tool for people looking to enjoy the outdoors. It provides users with unique locations regardless if the person has access to equipment. Like Airbnb, the app will work with hosts who will provide users with access to cabins in the middle of woods to tents for small camping events. “Spending more time outside has an undeniable, positive impact on people’s lives, and we’re so excited to support Hipcamp in their mission to get more people enjoying fresh air,” added Dreamers managing partner Kosaku Yada.
This is one of Hov’s latest business ventures. He announced this week that he would be teaming up with the NFL for music and as well as assist the league with tackling social injustice.