Photograph-Sharing App Memoir Snags $5.5 Million To Assist You Recall The Previous
Photograph-sharing software Memoir, a Timehop competitor that permits you to rediscover previous photograph “reminiscences,” has raised a further $5.5 million in a spherical led by Redpoint Ventures’ Ryan Sarver. Others collaborating included prior buyers Founder Collective, Field Group, Lerer Ventures and Thrive Capital.
The corporate had beforehand raised $1.2 million in seed funding.
Previously the top of product at Twitter, the brand new spherical is Sarver’s first as a VC, and is consultant of buyers’ growing curiosity in funding extra personal social networks.
Memoir, for background, first launched on iOS in fall 2013, providing customers quite a lot of methods to uncover their previous photographs, together with a time capsule-like perform that’s quite a bit like Timehop’s. However Memoir tacks on a number of different options, too, together with the power to ask associates for photographs you they usually each snapped whereas on the similar place on the similar time.
This September, the firm rolled out an improved function it calls “predictive photograph sharing,” which co-founder Lee Hoffman defined includes utilizing knowledge to determine whenever you’ve arrived and left a location, and which associates have been there. The app visually prompts you with recommendations of buddies you possibly can share with, making the method simpler than having to go round asking everybody to textual content you their pictures.
It’s a intelligent trick that depends on an iOS eight function referred to as “Go to Monitoring,” which is a part of the iOS eight Core Location Framework.
Whereas technologically fascinating, the app can nonetheless be tougher to elucidate to new customers as a result of it’s not fairly as easy an idea as one thing like Timehop’s “this present day in historical past” complication of previous pictures and social media posts.
That being stated, what Memoir is doing is a worthwhile problem for a startup to tackle. Customers are snapping increasingly smartphone pictures today, however most get deserted to the ether after they’re taken. The photographs are solely typically shared on public social networks, like Fb, and ultimately, customers filter out their photograph galleries on their smartphones to make room for brand spanking new photographs – typically with out even backing up first.
Hoffman says customers at present solely share 20% of their photographs publicly on social networks immediately, down 10% from three years earlier. In the meantime, the app’s customers are taking round 5 photographs per day, up seventy five% yr-over-yr. Whereas the corporate gained’t speak about particular obtain numbers or lively customers, Hoffman would say that one of many elements within the increase was the app’s “unimaginable stickiness” and its engagement numbers.
“Particularly, higher than 35% of customers which have ever registered are lively on the product,” he says.
The corporate is now rolling out a variety of new merchandise, together with net signup and a full OS X expertise, now reside right here on Memoir’s homepage. For now, Memoir stays free, however ultimately the plan is to introduction a premium subscription choice to assist the corporate generate income.