Lapse, a photo-sharing app focused on GenZ, has recently secured $30 million in funding to revolutionize social media. The London-based app has gained significant traction and popularity, with over 50 million users pre-registering for the platform. Lapse differentiates itself from other social media apps by encouraging users to share authentic and unedited moments, moving away from the traditional focus on likes and followers.
The funding round was oversubscribed and co-led by prominent investors Greylock and DST Global Partners, known for their support of tech giants like Facebook, Instagram, and LinkedIn. Existing investors GV, Octopus Ventures, and Speedinvest also participated, highlighting their confidence in Lapse’s potential.
The app, inspired by the simplicity of disposable cameras, has resonated particularly well with Gen-Z users who are seeking a more genuine and less curated online experience. Lapse has amassed a large user base organically, attracting angel investors such as Naveen Gavini, Soleio, Nima Khajehnouri, and Praveen Murugesan.
Co-founders Ben and Dan Silvertown launched Lapse in 2021 after Ben’s experience using a point-and-shoot film camera while backpacking in Vietnam. The app aims to help people capture and share authentic moments without the pressure of seeking validation through likes and followers. With its limited editing features, Lapse creates a space where users can share all moments, not just the glamorous ones.
Greylock general partner Jacob Andreou, former senior vice president of product & growth at Snap, has joined Lapse’s board of directors. Andreou commended Lapse for capturing the hearts and minds of a generation that seeks an alternative to traditional social platforms.
With the new funding, Lapse plans to prioritize user feedback for product updates and expand its engineering and technical teams. The company aims to build on its success and continue its mission of providing an authentic social media experience.
Lapse’s unique interface allows users to turn their iPhones into disposable cameras, recreating the aesthetic and experience of shooting on real analog film. Photos taken on the app develop in a darkroom and are revealed in a stack of snaps that users can swipe through. The app also features a friends-only photo journal where shared snaps can be archived or posted.
As Lapse prepares to enter its next chapter, the company expresses gratitude for the support and belief shown by its partners. The app’s commitment to authenticity and its ability to adapt to the changing preferences of Gen-Z have positioned it as a groundbreaking social media platform. With 100 memories captured every month, Lapse is creating a new kind of social media that focuses on genuine connections rather than popularity.
In a world saturated with social media platforms, Lapse offers a refreshing alternative for those seeking a more authentic online experience. By prioritizing genuine moments over curated content, Lapse has tapped into the desires of Gen-Z users who are looking for an outlet to capture and share memories without the pressure of seeking validation through likes and followers. With its recent funding, Lapse is poised for further growth and innovation, promising to continue reshaping the social media landscape.