Dispo, a photography app co-founded by YouTube sensation David Dobrik, is reportedly valued at at least $ 100 million.
The mobile app is inspired by disposable cameras, adding a grainy filter to photos and not allowing access until 9am the next day. It also recently launched closed beta photo sharing capabilities.
Large venture capitalists Sequoia Capital, Andreessen Horowitz and Benchmark have all been reported to have expressed interest in investing in the company’s Series A funding cycle.
Information reports that regardless of the above interest, investors have offered to value the company at $ 100 million or more, citing a source familiar with the situation.
The functionality of Dispo is supposed to mimic the delayed gratification of disposable photos. Dobrik and his co-founders hope to let users live in the moment by removing the ability to instantly view the photos they’ve taken. The status of the extended version of the app means that users can only access it by receiving a digital code.
The closed beta of Dispo’s photo-sharing element didn’t launch until early February 2020, but it’s proving to be a success, so much so that some of the biggest investment firms in the world hope to get a piece of the pie.
The app’s seed funding round totaled $ 4 million and was led by Reddit co-founder Alexis Ohanian, Seven Seven Six, as well as other funds like Unshackled, Shrug Capital, and Weekend Fund. The new round of funding is expected to be completed in the “next few weeks,” according to the report.
After our overnight Japanese community embrace, TestFlight is now full. Arigato 有 り 難 う We apologize to those who have invitations… hang in there. Updates coming soon
– Available (@DispoHQ) February 14, 2021
“It’s nostalgic for millennials, but for Gen Z, it feels like a whole different experience from Instagram and Snapchat,” said Maria Salamanca, principal at Unshackled, in relation to Dispo. “Gen Z is hungry to be there, and that sort of thing makes it possible.”
Sequoia, one of the reported stakeholders, has invested in companies such as 100 Thieves, Airbnb, Apple, Google, Instagram, LinkedIn, PayPal, Streamlabs, YouTube and Zoom.