Cameo seems to fit in the proud tradition of companies that have a niche, but are never going to be FANG. I'd put them in a bucket with Medium, Kickstarter, and Patreon. They provide a relatively simple service, they take a reasonable cut, and it has it's place. The problem with them is the Medium problem - when you've valued your company far beyond its role you essential destroy the business in an attempt to get it profitable to justify the valuation that you've already given it through your series A/B/C.
Whether it's throwing huge cash at A list celebrities, or jacking up the rake on their existing celebrities, or deciding they're a "platform" it's going to be very difficult for their management not to explode their own company through greed.
Whether it's throwing huge cash at A list celebrities, or jacking up the rake on their existing celebrities, or deciding they're a "platform" it's going to be very difficult for their management not to explode their own company through greed.