Albumatic Photo Sharing Service Raises $4.5 Million
Photo sharing service Albumatic has raised $4.5 million in a new round of funding. The company’s new cash flow was discovered in a recent SEC filing.
Named in the filing are RRE Ventures co-founder and principal Adam Ludwin and RRE managing partner Stuart Ellman.
Launched just three weeks ago the company’s Form D filing revealed that ten unnamed investors had already put cash into the startup. The company also reveals that of the $4.5 million in funding $4,045,002 has been sold.
Very few other details about the company’s funding round have been released at this time.
If you are unfamiliar with the platform, it allows users to share pictures with friends based on a specific event. Nearby friends can join in the “conversation” by adding more photos to event albums. Users far away can then watch the event album as it is created in real-time.
A real-time photo album tool is a unique idea and the fact that Albumatic is focused on the event and not creating friends connections that you barely utilize is a unique approach.
As Ludwin explains Albumatic is a “fun and done” platform that brings a new element to photo sharing.
Albumatic couldn’t arrive on the social platform scene at a better time. Social photo sharing platforms are attempting to redefine the space with new features and deeper social integration. Yahoo owned Flickr recently rolled out hashtag and photo filtering support and Twitter now operates its own photo hosting service.
The big underlying question will be whether or not users will invest themselves in yet another platform that shares their multimedia. Users will first need to find the value in returning to a platform that touts its ability to post an event and then be “done” with it.
In any case, the Albumatic platform offers a beautiful user UI and easy event album creation which should help users feel right at home with the platform should they choose to give it a try.
Have you tried out the Albumatic experience? What do you think of the platforms unique take on traditional social photo sharing?
