After making investments in companies over the years, John Legend is building his own platform.
Prior to its initial launch in March 2023, the idea for It’s Good came around the COVID-19 pandemic while Legend and Mike Rosenthal, his co-founder and tech entrepreneur, were connecting virtually and attempting to recall and share their past travel experiences, the outlet details.
“We are really looking at a real-world problem that has not been solved really since Yelp first started, which was 20-something years ago,” Rosenthal shared, according to the outlet.
The duo’s app has already received backing as it gears up to open to the public. Earlier this month, it raised $5 million in a funding round, The Wall Street Journal reports. Participants included Lightspeed Venture Partners.
As It’s Good transitions from invite-only to forming its community, the company will focus on growth rather than revenue. Additionally, the team is looking to potentially partner with hospitality and food companies in the near future.
John Legend has been putting on his entrepreneur hat as of late. In February 2023, the EGOT winner dropped Loved01, his skincare line, according to Men’s Health. For his unisex skincare line, Legend teamed up with dermatologist Dr. Naana Boakye. The mission behind the brand is to bring inclusivity for melanated skin in the skincare market.
“I didn’t want it to just be a celebrity brand,” Legend told Men’s Health. “It wasn’t until A-Frame approached me that I really saw the vision for why I would want to do this: one, meeting a need that really wasn’t being addressed very well in the marketplace, formulating for melanin rich skin, and two, making it accessible.”