Teen hit Yolo raises $8M to let you Snapchat anonymously –
Summary
It seems a combination of inherent virality via Snapchat, easy user acquisition via Snap Kit and sharp product design has given Yolo some staying power. The team had been grinding since 2017 on a video reactions app called Popshow funded by a small pre-seed round from SV Angel, Shrug Capital and Product Hunt’s Ryan Hoover. Popshow never caught on, so the team began experimenting on Snap Kit, building a more official Q&A feature for Snapchat than predecessors like Sarahah and Polly. The concept of a social app where users could shift between full anonymity and representation via avatar attracted its $8 million Series A to invest in product and engineering. The round was led by Thrive Capital, Ron Conway’s A.Capital, former TechCrunch editor Alexia Tsotsis’ Dream Machine, Shrug, Day One, Goodwater, Knight VC, ex-Facebooker Bobby Goodlatte, Twitter co-founder Biz Stone and SV Angel’s Brian Pokorny.
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