Investors value Anonymous Posting App Secret at $100 million
Anonymous gossip app Secret has been valued above $100 million after the company raised $25 million in the latest round of funding. Index Venture and Redpoint Ventures have invested in the company in the second round of fund raising along with other investors.
Secret had earlier raised $12.7 million in March this year. The app allows users to post anything anonymously on its network. The posts can be read by friends and people in extended circles. On its official blog, Secret has confirmed the report of latest fund raising. Danny Rimer of Index Ventures has joined the Secret board with the latest round of funding.
The app has also introduced two new features. Facebook login has been implemented. Another notable feature is ‘collections’, a list of posts on topics of interest of users. Users will be able to follow the topics and get the latest ‘secrets’ on the topics of their choice.
Secret ranks at #132 among the social networking apps in the United States, as per a report published in App Annie. Social media experts have already started questioning the anonymity of posters in case Secret allows people to connect via Facebook.
In an official announcement, Index Ventures said that the company has invested in Secret, keeping in mind the basic need of people to share their true thoughts, anonymously, without fear of judgment. The popular social networks cannot offer the same feature to people as the users are closely connected to their friends and family on these networks.
Index Ventures official statement adds, “We backed Secret since its seed round and continue to believe that Secret will become a massive social phenomenon with billions of users around the world. It’s already becoming very popular not just in the US, but in China, Russia, The Netherlands, and many other countries.”
In the second round of funding, Alexis Ohanian, SV Angel, Fuel Capital, Ceyuan Ventures and some other notable Angel Investors have also participated.
In the fast growing app market, Secret has a competitor as well. Yik Yah, a location based anonymous gossip app, currently ranks at #58 in terms of usage in the United States. The company raised $10 million in funding in June from DCM, Azure Capital Partners, Renren Lianhe Holdings and Tim Draper.
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