Flipagram, maker of an app that lets users share stories through photos, videos and music, closed a $70 million round of financing, as it looks to “give people everywhere the power to create and share amazing visual stories using just their smartphones”.
The round was led by Sequoia, which was joined by Kleiner Perkins Caufield & Byers (KPCB) and Index Ventures.
“Flipagram’s technology lets you weave images, music and video into moving stories of our lives. [It has] the right partnerships, business model and intellectual firepower to be the preferred platform for next-gen content creators,” said John Doerr, general partner at KPCB, who has joined Flipagram’s board of directors along with Michael Moritz, chairman of Sequoia.
According to TechCrunch, the company passed 30 million monthly active users at the end of last year.
Flipagrams can be ‘reflipped’ on the app and easily shared to other social networks. They can also be linked to further action, like purchasing the song on iTunes that they come with, or visiting a website.
At the same time, Flipagram also announced that it has struck “landmark” deals with music labels and publishers, creating a comprehensive catalogue of millions of song clips.
Although Flipagram’s press release did not name its partners, TechCrunch said the deal is with big names like Universal Music Group, Sony Music Entertainment and Warner Music.