A social media app that feels like the old Instagram days raised $21 million
The social media startup Retro, founded by former Instagram employees, has raised $21 million in funding. The app aims to provide a simpler, more intimate social experience compared to major platforms like Instagram and TikTok.
Why it matters
The success of niche social apps suggests a growing consumer desire for alternatives to the 'Big Tech' social media model, despite a challenging venture capital environment.
Retro is a social media app for sharing content with friends and family. Screenshot/Retro/BI Retro, designed by ex-Instagram employees, is a social app for sharing content with close friends. The startup behind it has raised $21 million, recent financial filings reveal. It's one of many new social media apps taking on Big Tech platforms. There's a social media app I like using more than Instagram or TikTok — and it's attracted serious investor interest. The app, called Retro, is an Instagram alternative for sharing photos and videos with close friends or family. The startup behind the app, Lone Palm Labs, has raised at least $21 million in venture capital funding, according to recent financial filings viewed by Business Insider.
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