Yubo the French-based startup wants to make the social apps much more interesting. The company has got $12.3 million funding about led by Iris Capital and Idinvest Partners. Yubo is a social app specially designed for teenagers to meet new people and become friends. In this funding system the existing investors Sweet Capital, Alven, and Village Global are also contributing. At present, the startup has managed to draw the attention of about 25 million users over the years. The app is becoming famous and there are currently thousands of people signing up to the social networking platform every day.
The Paris-based social discovery platform Yubo is specially designed for new Generation teenagers. The app has silently grown over the precedent few years and has managed to attract millions of users in an efficient manner.
The app was created by Jérémie Aouate, Sacha Lazimi, and Arthur Patora and launched in the year 2015. Yubo is intended for youthful people between 13 and 25 age group, who can stream live videos the videos of their choice during which both streamers and viewers interrelate through a hassle-free live chat process. According to the social app company creators, it is a secure platform where the teenagers can share and discuss their thoughts and values, rather than the algorithmic support and influencer hierarchies like other social networking platforms.
Sacha Lazimi the CEO of said that- “Yubo is a response to a fundamental need of Generation Z: socializing and creating friendships in the digital world in the exact same way as in real life. This funding round will let us reach new technological milestones and further our international footprint. We are especially proud that such recognized funds have granted us their confidence and backing to support our ambitions: becoming the world-leading social platform, born in France and based on European standards” commented Lazimi.
In addition to the above, the social app has engrossed more than 25 million young people globally, though mainly in the UK, US, and Australia. At present, the company is looking forward to expanding its horizons into new regions with the right product development. To hold up such growth, the French social networking company is soon going to hire 35 new members in the team growing its total employee count to 50 people.
The CEO & Co-Founder of Sweet Capital Christian Dorffer said that: “We’re excited about Yubo’s potential to become the leading platform for teens and young adults to express themselves, socialize and learn from their peers. We believe mobile will play an increasingly important role in the lives of this segment and Yubo’s model, including safety features, makes it one of the most exciting mobile companies at the moment” he said.
However, with this application, the users can create their own little community of friends. Yubo wants to become a well-known place where you feel right. You can use the live video streaming feature to represent a micro-community of people interacting through both video and a live chat.
Along with this, the amount of funding amount raised will be used by the company to improve safety. It’s a vast process, particularly when there are youthful people using your social platform. In addition to constant work on various tools and live-stream moderation algorithms, the company will also raise the size of its work team.