News

Social music app Flipagram reportedly seeking buyer


Tags:

In July 2015, Flipagram raised $70m and signed licensing deals with all three major labels plus Merlin for its social app.

Just over a year on, though, the company’s progress may have stalled.

“The LA-based startup, which makes an app that lets users stitch together photos and videos into montages up to a minute long, is shopping itself around in hopes of finding a buyer,” reported Recode yesterday.

“Flipagram is approaching the top-tier tech and media companies first, these sources say — folks like Facebook, Google, Twitter and Snapchat.”

Well, you have to be optimistic in startup-land.

In March Flipagram said it had 36 million monthly active users, but the $300m-$400m valuation that last funding round reportedly put on the company may be a stretch given the rise of other, faster-growing apps like Musical.ly, which would surely be higher up those top-tier companies’ shopping lists now.

Stuart Dredge

Read More: News
Leave a Reply

(All fields required)