Yevvo Raised 3.7million in Series A For Live Video Sharing
Yevvo a startup based in San Francisco and Israel, announced that they received 3.7 million in Series A funding for live video sharing. The funding round was led by Entree Capital. Yevvo is a live video sharing mobile app that allows users to bring live events to a bigger audience with high end technologies such as streaming. Over the past 30 days, the startup has received over 9000 tweets from regular users talking about the app.
Yevvo is an iphone app that allows users a live, raw and prompt connection with a virtual community. Imagine if you are at a dance festival event and you want to share your amazing experience with your peers. You can do this by using the Yevvo app. The iPhone app gives your peers a chance to ask their audience to watch a live video about the special and even mundane moments in their lives.
The startup received most of it’s feedbacks from a group of Detroit students who downloaded the app and told their friends to download the app as well. Yevvo claims that not too much marketing was involved in promoting the app. It started off with 3000 students from 4 different Detroirt high schools that eventually spread out to different cities, age groups, and users. Most of the daily and active users are teeenagers looking to share video with their friends. The app functions are similar to another popular video sharing app, Vine.
CEO Ben Rubin, was actually unaware of the popularity that the app was receiving. Ben noted that the downloads spread organically and that he didn’t know about them until a venture investor in Silicon Valley told him and offered the company a term sheet. He then alerted his angel investors, including Mr. Shochat. Aleph quickly followed with its own term sheet. Afterwards, they fully secured a 3.7 million Series A Round funding.
When asked how does Yevvo compare with other live streaming platforms such as Ustream. The CEO said that, the goal of the company is not the same as Ustream, instead the mission is to build a video content sharing community like Instagram with live streaming events. This allows regular users to tap into their close one’s lives.
To learn more about the app download it in the iOs store or check out their website here: