Yes, Queen Bey is now a tech investor too

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October 3, 2016 4:31 PM

Queen Bey has also invested in WTRMLN WTR, a watermelon beverage company.

Beyoncé in 'Formation'

Queen of pop, Beyoncé is joining celebrity investors like Snoop Dogg, Ashton Kutcher, and Justin Bieber, to bring her money making skills to the tech universe.

Beyoncé and the management company she owns, Parkwood Entertainment, have invested $150,000 in SideStep, an app used to buy concert merchandise and skip the line when a user wants to pick up at a show.

Originally, SideStep was selling t-shirts and posters for Beyoncé on her Formation World Tour. Two weeks in - and surprising success after - Beyoncé and Parkwood decided to invest in SideStep's seed funding round.

According to Techcrunch, SideStep CEO Eric Jones says the company “wanted Beyoncé’s tour to be very focused on tech," and was down with the idea of “a tiny scrappy startup doing the biggest tour in the world.”

ALSO READ: Jay Z's music streaming service hits one million subscribers

Queen Bey has also invested in WTRMLN WTR, a watermelon beverage company and is believed to have ties with juicing machine manufacturer Juicero, although the company has refused to speak about it.

Mrs. Carter also helped start vegan food company 22 Day Nutrition in addition to being a stakeholder in Tidal - in which her husband Jay Z is the major stakeholder - thanks to her agreement to give it early access to her music.

Analysts and experts have suggested that her investment on SideStep could directly help artists earn more money.

SideStep let you order tour merchandise before, during and after the show from their smartphone app. You will then be able to, literally, sidestep the line at the merchandise booth, show a QR code at a dedicated pickup spot, and grab your items.

The startup has raised a total of $1.7 million from Beyoncé and other investors like Jared Leto, Troy Carter and Cross Culture Ventures, and the previous CEO of the LA Dodgers.

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