Cameo was once valued at $1 billion. Now it's so broke it can't pay a $600,000 fine.

• Cameo was once a tech unicorn, valued at over $1 billion just three years ago.
• Now it can't pay a $600,000 fine, according to a recent settlement document.
• The company violated FTC rules for celebrity endorsement disclosures.

Cameo was once a tech darling. In 2021, the company reached a $1 billion valuation following a $100 million investment after the app — which allows people to pay celebrities for short video messages — became a phenomenon during the coronavirus pandemic.

Now, Cameo can't even pay a $600,000 fine.