Imgur Announces Successful Raise of $40m in Series A Funding.
The fastest growing entertainment and image sharing platform on the Web, known as Imgur, had announced on Thursday, that it has managed to raise $40M from Andreessen Horowitz. Along with the investment, general partner, Lar Dalgaar will be joining the Board of Directs seat for Imgur. Imgur will utilize these funding to accelerate its growth rate, increase the continued product development and innovation, and continue to increases its growth within communities worldwide.
Reddit has also contributed to this funding round, an appropriate nod towards the founder Alan Schaaf, who originally created 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.”
Imgurs growth has continued to increase over the past couple of five years, from its previous simple sharing tool, to one of the top most entertainment platforms around the Web, with more that 130 million different visitors each month. The company has also recently managed to convince ROFLCon co-founder Tim Hwang to join on-board to run their Special Initiatives, with an emphases 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.”
Well known as a Simple Image Sharer, Imgur Provides a fast and simple service for sharing images through the Internet. The company offers its users a free image hosting, paid pro subscription, and a sophisticated API. The sites main features is the Imgur Gallery, a real-time collection of some of the most popular images to ever be circulated through the Internet. Alan Schaaf, Founder of Imgur, had launched the site back in February of 2009 when he was still a junior at Ohio University. The site had immediately gained mass favor with the users of various social media sites and online communities due to its simple navigation, anonymous uploads and unlimited bandwidth restrictions.