Instagram/TikTok competitor Lapse raises $30M to develop ‘analog photography’ app

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Image: Lapse

 

Lapse, an innovative app that transforms your smartphone into an old-school camera, has recently secured a whopping $30 million in funding. This significant investment underscores the growing interest in fresh social media platforms, despite the stiff competition from giants like Instagram and TikTok.

 

Lapse offers a unique experience, reminiscent of the charm and simplicity of analog photography. Users capture photos that they must wait to see “developed,” with no opportunity for editing or retaking. This approach has resonated with millions of users, with the app boasting a consistent top-10 ranking in the U.S. app store for photographic apps.

 

The funding round was co-led by Greylock and DST Global Partners, both renowned for their early backing of successful consumer apps like Facebook, Instagram, TikTok, and LinkedIn. This investment brings Lapse’s total funding to over $42 million, pushing its valuation to around $150 million.

 

With this new influx of capital, Lapse plans to enhance the photo experience with more features and eventually expand into video. Interestingly, the company is exploring alternative monetization strategies, steering clear of the typical advertising route most social apps take.

 

As Lapse continues to grow and evolve, one can’t help but wonder: Will this old-school approach to photography disrupt the social media landscape? And how will this impact the way we share and consume content online? We’d love to hear your thoughts on this. Do you think Lapse’s unique approach could redefine social media norms?

 

 

Read more:

• https://venturebeat.com/games/lapse-raises-30m-for-social-media-photo-sharing-app/
• https://www.axios.com/pro/media-deals/2024/02/27/lapse-app-photo
• https://techcrunch.com/2024/02/27/lapse-the-app-turning-your-phone-into-an-old-school-camera-snaps-up-30m/