Home » News » Yubo Races Towards Becoming the Next Big Social Media App, Funding Touches $47.5 Million

Yubo Races Towards Becoming the Next Big Social Media App, Funding Touches $47.5 Million

Yubo races towards becoming the next big social media app, funding touches $47.5 million

Many people might not have heard about Yubo. It is a startup based out of France, and it is nothing but a social media app frequented by youths below the age of 25. Or basically, one can say that this app has been made to fascinate the teen crowd. So far, about 40 million users have registered themselves on this app. A small subset of these users has been accessing and spending a lot of time within the live-streaming rooms daily. At the same time, they also go ahead and make new friends and also explore new features by shelling out money. 

The company is in no mood to raise any amount by providing the ad-free access option. Rather, users are required to subscribe to the app. They can also access or unlock many features by paying for the same. The startup claims that it is anticipating a major revenue amount of about $20 million this year. Last year, Yubo barely managed to generate just half this revenue amount.

Lately, Yubo concluded a Series C funding process. After the round completion, the company has raised funds to the value of $47.5 million. Idinvest Partners, Iris Capital, Alven, and Sweet Capital, who are the present investors, are again planning to re-invest and participate in the next round. Joining them would be Gaia Capital Partners, a new investor. Jerry Murdock, belonging to Insight Partners, would be a part of its executive members, although he would not be an investor.

Features of Yubo

Yubo differs from other social media platforms in many distinct ways. Unlike Instagram or Facebook, here on Yubo, one cannot follow someone or like any photos or any likewise content. The main motto here is to encourage people to meet and make new friends, especially outside of high school, and then play and chill out together.

On opening the app, the user can view a series of rooms to choose to join. The social media app can be streamed live from the phone itself, and people can start looking out for new friends. Users can choose a room depending on their line of interest-for instance, a room could contain people who have an interest in politics, or there could be a room filled with people who are only interested in playing games. Most of the rooms contain only about 5 to 10 people on average. 

Additionally, new friends can be located on the platform by swiping either on the profile’s left or right. This feature exists on Tinder too. People are welcome to find and make new friends and start talking to them through the app. 

The co-founder and CEO of the organization, Sacha Lazimi, claims that, as of today, about 40 million users have registered on the platform’s app. Majorly, the crowd is from the U.S., the U.K., Canada, Australia, and France. Every year, there has been a 400% rise in users’ number of hours within these live rooms.

Users making purchases within the app and opting for subscriptions are liable to receive more benefits. Some of these include improvements in the live-streaming features, profile promotion, and its advertising within the online section and that too at the top to be easily spotted. It is bound to increase interactions with many new people.

At the same time, Yubo is careful enough and brings in many moderation practices since the crowd is young and vulnerable to online violence or abuse. For instance, at the time of registration itself, Yubo ensures that the user enters the platform’s correct age group. Additionally, all of the content posted on the platform is analyzed very well. The company is in the process of introducing alert popups that show up whenever something is not correct. 

The platform has a huge language base and covers 36 languages as of now. Yubo is all set on extending its team in the latest funding activity. Presently, the firm houses 30 employees in Paris, London, and Jacksonville. Very soon, New York would see a new Yubo office.

Image source

Leave a Comment

Your email address will not be published. Required fields are marked *