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UK social media app Lapse raises £24m to take on Instagram

Lapse social media
Image credit: Lapse

Lapse, a recently founded social media platform looking to take on Instagram with filter-free pictures, has closed a $30m (£23.7m) Series A round.

Lapse is a photo-sharing app that claims to be focused more on friends than followers. The company said its platform was inspired by the experience of disposable cameras, hosting unedited pictures taken directly on the app.

Co-founder Ben Silvertown said he was inspired to create the app after using a point-and-shoot film camera on holiday in Vietnam. The more traditional method of capturing memories resonated with Silvertown, who returned to the UK to found Lapse with his brother Dan.

“Lapse doesn’t let you upload or edit in ways that other platforms encourage,” said Silvertown.

“Everyone on Lapse plays by the same rules, which creates a space where it’s OK to share all moments, not just the glamorous.”

Lapse aims to de-emphasise the likes and followers aspect of social media in favour of “authentic” memory sharing.

The latest funding round was co-led by Greylock, an early investor in social media giants including Facebook, Instagram, LinkedIn and Discord.

“Lapse has captured the hearts and minds of a generation who isn’t sharing their lives with friends on other social platforms,” said Jacob Andreou, general partner at Greylock.

“This is a testament to Lapse’s founders Ben and Dan, who are a unique blend of art and science, and obsessed with building an authentic experience for young people to capture moments and share memories.”

The round also saw participation from Google Ventures, Octopus Ventures and Speedinvest.

Lapse previously raised £1m in 2021 in a seed round featuring Atomico and Ian Hogarth, the investor and entrepreneur leading the government’s AI taskforce.

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