The app is called Hipcamp, and it allows people with outdoor space to rent it to others for camping. The Brooklyn rapper invested via his firm Marcy Venture Partners and Smith through his Dreamers VC fund.
Those looking to rent camping spaces on the app can do so by either searching for a traditional camping experience in a tent, they can rent an RV or look for glamping locations — a concept that merges the words “glamorous” and “camping.”
The way it works, Hipcamp teams up with folks who own land that want to make some extra money on the side, connecting them with customers who want an opportunity to camp in locations they typically wouldn’t get the chance to use. People also rent out their backyards for others to use.
Hipcamp secured $25 million in its latest round of funding, and it’s just the latest venture Smith and Jay-Z have attached their names to.
Earlier this month, it was announced the two celebs will produce a miniseries on Emmett Till that was supposed to air on HBO but will now be on ABC.