Social media and disposable camera app Lapse, has today raised $11 million in a seed round led by Octopus Ventures and GV. Existing investors Speedinvest and a new angel investor Soleio Cuervo also participated in the round. The firm has a total of $12.4 million raised to date.
Founded in 2017 by Ben and Dan Silvertown and based in London, Lapse is allowing for you and your friends to capture and share photos with a 24-hour delay, just like the processing that used to involve a photo lab. Lapse is also closing to a social media platform (for close friends) integrating the “Like” button offering a more relaxed and anxiety free environment.
Even though Lapse went live less than a moth ago, the company is seeing tremendous growth, with 10,000 users subscribed for its beta test breaking Apple’s download charts, and another 150,000 waiting to try it. What the Ben and Dan are doing is truly remarkable, helping users visually share their experiences but without the rigging of the system via a “like” button.
Ben Silvertown, co-founder of Lapse, said: “Lapse doesn’t let you review, edit, or curate photos in ways that other platforms encourage. The focus is on enjoying the moment, rather than trying to showcase it. People are taking and sharing photos on Lapse of things they never would have otherwise. By removing the pressure for perfection and the mental barrier when we review photos, a whole new world of more ‘real’ photos gets unlocked.”
Lapse is still very much in early stage mode and there is a lot of room for it to be developed further. The only lens that exists on the app currently, for example, is one that takes static photos, from the back of the camera. But the founders say that a lot of thought has gone into that one lens.
“Lapse is a next-generation private social network, launched at a time when consumers are fundamentally rethinking their relationship with traditional players. With Lapse, the consumer is no longer the product. This dramatic shift in mentality enables users to communicate freely in private groups, and to provide in-the-moment images of their lives. The product design also means users no longer have the social pressures of portraying themselves a certain way and are instead encouraged to be authentic, which has a profound impact on the way we communicate,” said Octopus Ventures’ Matt Chandler.
Source: TechChrunch “Lapse, an app that lets you snap and “develop” rolls of film with groups of friends, raises $11M from GV and others”