Key facts
- Retro, a photo-sharing app founded by former Instagram product engineers Nathan Sharp and Ryan Olson, raised over $21 million in Series A funding.
- The SEC filing indicates the funding was closed in December.
- The app focuses on direct sharing among friends, eschewing algorithmic feeds.
- Retro offers in-app subscriptions for premium features, avoiding advertising.
- The app has been downloaded around 7 million times and seen substantial growth in in-app spending.
Retro, a photo-sharing application developed by former Instagram product engineers Nathan Sharp and Ryan Olson, has secured over $21 million in Series A funding. The company, operating under the name Lone Palm Labs, filed the relevant SEC documentation in August, indicating the funding round closed in December.
Sharp emphasized the enduring desire for social applications that prioritize direct connections between friends over algorithmically driven content feeds. Retro, launched in 2023, initially served as a personal photo journal but has evolved to include features for private weekly photo sharing, shared albums, and memory recaps.
Unlike many social apps, Retro does not rely on advertising for revenue. Instead, it offers in-app subscriptions that unlock features such as video and GIF comments, additional styles, unlimited history, and special app icons. Data from Appfigures shows Retro has accumulated approximately 7 million downloads since its inception, with in-app spending increasing by over 460% in the last six months.
Notable investors in Retro include Thrive Capital, Figma CEO Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, and Positive Sum, alongside various angel investors. Pitchbook estimates the startup's current valuation exceeds $100 million.