Amazon's Betting Big on This Unknown AI Company

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

e.l.f. Beauty Expands Roblox Partnership With Real-World Commerce Test

Shivani Kumaresan
July 01, 2024

e.l.f. Beauty Inc (NYSE:ELF) is expanding its collaboration with Roblox Corp (NYSE:RBLX), becoming the first beauty brand to test real-world commerce on the platform, powered by Walmart Inc (NYSE:WMT).

This initiative supports e.l.f.’s mission to make beauty accessible to all while engaging with its growing Roblox community, which boasts over 12 million visits.

e.l.f. has launched a virtual kiosk within its e.l.f. UP! experience on Roblox. Here, U.S. visitors aged 13 and up can purchase a limited-edition physical product, the e.l.f. UP! Pets Hoodie, celebrating the brand’s cruelty-free commitment.

Additionally, e.l.f. is donating $50,000 to the Humane Society of the United States to support animal welfare.

Since its launch in November 2023, the e.l.f. UP! experience has received a 96% positivity rating and distributed over one million free virtual items, becoming a significant provider of free virtual goods on Roblox.

The platform offers users a personalized journey to become entrepreneurs and cultural changemakers, focusing on causes they care about.

Through the e.l.f. UP! virtual kiosk, users can purchase various physical products, including vegan and cruelty-free lip and SPF items.

Each purchase also grants a “virtual twin” digital item for use on Roblox, designed in collaboration with renowned Roblox community creators.

e.l.f. Chief Marketing Officer Kory Marchisotto said, “e.l.f. UP! has been lightning in a bottle since day one and continues to surpass all expectations, especially among our Gen Z community”.

“Testing commerce on Roblox is the next evolution in our journey of merging beauty with immersive platforms.”

Price Action: ELF shares closed lower by 3.34% at $210.72 on Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Shutterstock

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