Yubo could be the next big social app as it raises $47.5 million

French startup Yubo is the biggest social media app you’ve never heard of — unless you’re a teen. With a focus on young people under 25, the company has managed to attract 40 million users. A fraction of them hang out every day in live-streaming rooms, meet new people and spend money for more features.

That’s right, the company isn’t betting on ads. You can pay to unlock items or subscribe to the app. Yubo expects to generate $20 million in revenue this year — that’s twice as much revenue than it generated in 2019.

Yubo recently closed a Series C funding round of $47.5 million. Existing investors Idinvest Partners, Iris Capital, Alven and Sweet Capital are investing once again. Gaia Capital Partners is joining the round as a new investor. Jerry Murdock from Insight…

Read Story

Related Post