Photo-sharing app Retro raises $21 million in Series A funding
Retro, a friend-focused photo-sharing app developed by former Instagram engineers Nathan Sharp and Ryan Olson, has secured over $21 million in Series A funding. The round highlights growing interest in social platforms that prioritize direct connections between users rather than algorithm-driven content feeds. According to an SEC filing dated August 19 but closed in December, the startup—officially named Lone Palm Labs—is now valued at more than $100 million. Since its launch in early 2023 as a personal photo journal app, Retro has expanded features such as private sharing with friends and shared albums. The company avoids ad-based monetization instead offering paid subscriptions for enhanced functionality like video support and unlimited history access. App intelligence data shows over seven million downloads since launch, alongside more than 460% growth in in-app spending over the past six months. Investors include Thrive Capital, Figma CEO Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, Positive Sum, and various angels. The funding reflects a broader market shift toward user-centric social platforms as algorithmic feeds dominate mainstream apps.
Topics: fintech social_media startup