Yope is sparking GenZ (and VC) interest with an Instagram-like app for private groups

Photo and video apps targeting young adults with social hooks are a dime a dozen these days, so those that show traction with 18-twentysomethings tend to catch the attention of investors looking for the next Instagram or TikTok. In the latest example, photo-sharing app Yope, which lets you share still images to private groups, says that it has racked up 2.2 million monthly active users and 800,000 daily active users, with 30x growth in last six months. And in perhaps one of the more important metrics in what is a very fickle market, the company currently claims 40% day-seven retention — that is, 40% of users are still using the app seven days after installing it. All of that is translating to a flurry of activity among VCs. TechCrunch has learned and confirmed that the startup behind Yope has now raised an initial seed round of $4.65 million on a valuation of $50 million. Goodwater Capital is leading the round, with Inovo VC and Redseed participating, alongside angels who include Je ... Read full article.