Let, a teen social networking app with a focal point on gamification, is saying that it has raised $ 600,000 in seed funding.
That’s now not an enormous sum of money, however the funding is interesting in the context of Let’s history. Once I first met founder Pascal Lorne a couple of months ago, he advised me that once when he launched the Let app in fall 2013, it wasn’t reaching the appropriate target audience, so he grew to become down out of doors investment and bought out his co-founders, while the developers persisted engaged on the mission section-time in alternate for fairness.
A revamped model of the app launched in March of this yr — allowing users to put up photos, movies, and different content, and to give each and every different stars for updates that they like. The posts and customers with the most engagement are then featured on Let’s leaderboard. The Company has additionally been recruiting what Lorne calls “the lengthy tail” of teen social media celebrities.
Let isn’t sharing any consumer numbers, however Lorne sounds beautiful happy with the expansion so far (and most likely his new investors are, too). He did say that Thirteen- to 18-year-old ladies make up about Seventy Five p.c of the Let’s user base.
Lorne also mentioned that whereas The Company bargains each iPhone and Android apps, the iPhone is evidently extra widespread among Let’s users, in particular for the reason that free up of iOS Eight. (iOS gadgets accounted for Ninety Six % of downloads previously two weeks.) In Consequence, Lorne stated he’ll be “having a bet everything on Apple,” and he’s debating whether or not to shut down the Android app solely.
The Brand New funding comes from French agency Breega Capital, David Graham (owner of talent administration firm PressPlay), and friends and family. Lorne mentioned he employs a full-time crew of Thirteen individuals, cut up between France and the us, and he plans to boost a larger Series A soon.