Yope Raises $12.3 Million for Private Social App as User Base Nears 15 Million
Updated
Updated · TechCrunch · Jul 22
Yope Raises $12.3 Million for Private Social App as User Base Nears 15 Million
1 articles · Updated · TechCrunch · Jul 22
Summary
$12.3 million in seed funding led by Northzone will help Yope expand its private, algorithm-free social network, taking total funding to $20 million.
Nearly 15 million registered users and 10 million to 20 million daily shared items helped attract investors to the London startup, which says more than half its users open the app at least five days a week.
Yope is pitching itself against ad-driven public platforms with private-by-default accounts, no algorithmic feed and a future premium subscription model instead of advertising.
AI is being used to build connection tools rather than generate content, including mini-games due within a month and features aimed at helping friends meet offline.
The company, now about 35 people, plans to use the money to develop the product further and open a U.S. office.