Imgur Announces $40m in Series A Financing Led by Andreessen Horowitz
SAN FRANCISCO, Calif., April 3, 2014-- Imgur, the fastest growing entertainment and image sharing platform on the Web, today announced that it has raised $40M from Andreessen Horowitz. Along with the investment, general partner, Lars Dalgaard will take a Board of Directors seat with Imgur. Imgur will use the funding to accelerate its internal growth, drive continued product development and innovation, and to grow its community worldwide.
Reddit also contributed to the round, an appropriate nod to founder Alan Schaaf originally building Imgur as a "simple image sharer" for the Reddit community.
"As a company that bootstrapped our way to profitability and had a blast doing it, we really weren't out looking for money at all," said Alan Schaaf, founder and CEO, Imgur. "That said, as soon as we started talking with Marc and Lars, we knew this was a great fit. Lars completely gets what we're trying to accomplish, and has pledged to help us conquer the Internet. The only sad part is that we won't be eligible for any more Best Bootstrapped Startup Crunchies."
"We've been watching Imgur for years, and the way Alan and his team have committed to building for the community is truly impressive," said Lars Dalgaard, general partner, Andreessen Horowitz. "It's rare to see a company so committed to preserving an excellent user experience, and it's no accident that this community has flourished. We hope to provide resources and guidance to help Imgur continue down this path, with the freedom to do even more to accelerate product innovation and community growth."
Imgur has grown over the past five years from a simple sharing tool to one of the top entertainment platforms on the Web with more than 130 million unique visitors each month. The company also recently brought ROFLCon co-founder Tim Hwang on-board to run Special Initiatives, with an emphasis on community growth and engagement.
"It's been an awesome experience to see this little idea to make an image sharing tool that didn't suck blossom into an Internet entertainment hub with the most engaged and unique community anywhere on the web," said Alan Schaaf, founder and CEO, Imgur. "We've always put community first, and in doing so have built and maintained an authentic experience that's grown organically. Partnering with Andreessen Horowitz is an incredible opportunity to take the next step. Lars is so passionate about Imgur, and we felt that from the first time we sat down. We're already feeling the impact of this partnership. We're thrilled to move ahead and continue to build an amazing experience for our community."
To download Imgur Android app https://play.google.com/store/apps/details?id=com.imgur.mobile
Known as The Simple Image Sharer, Imgur provides a fast and easy service for sharing images with the Internet. The company offers free image hosting, paid Pro subscriptions, and a robust API. The site features the Imgur Gallery, a real-time collection of the most popular images being circulated on the Internet. Founder Alan Schaaf launched Imgur in February of 2009 when he was a junior at Ohio University. The site immediately gained favor with users of social media sites and online communities due to its ease of use, anonymous uploads and unlimited bandwidth restrictions.
About Andreessen Horowitz
Andreessen Horowitz backs bold entrepreneurs who move fast, think big and are committed to building the next major franchises in technology. Founded by Marc Andreessen and Ben Horowitz, we provide entrepreneurs with access to our deep expertise and insights in innovation, business development, market intelligence, executive and technical talent, and marketing and brand building. Find us in Menlo Park, California, and at www.a16z.com.
Venture Capital Database