PR86696

LONDON, Nov. 18, 2020 /PRNewswire=KYODO JBN/ --

-- Latest funding round follows a year of exponential growth for Yubo with an

increase of 400% of time spent in live stream, as Yubo has already attracted

over 40 million young people worldwide.

Yubo (http://yubo.live/ ), the leading platform for young people to socialise

online, today announces a $47.5 million Series C round, led by existing

investors Idinvest, Iris Capital, Alven and Sweet Capital as well as new

investors, including Gaia Capital Partners. As a part of the round, Jerry

Murdock (https://www.insightpartners.com/team/jerry-murdock ), co-founder of

Insight Partners (investors in Twitter, Snapchat, TrueCaller…), will also

become an independent member of the Yubo board.

Logo - https://mma.prnewswire.com/media/1337253/yubo_Logo.jpg

In less than a year (https://newsroom.yubo.live/yubo-leve-11-2-meu-pour-soutenir-sa-croissance-internationale-et-poursuivre-le-developpement-de-sa-plateforme-plebiscitee-par-la-generation-z/ ),

Yubo raised over $60m with international investors such as Village Global

and the current round investors. The new funding round will be used to support

further product development of the platform and strengthen its place as the

leading social space for GenZ to socialise online. Designed to renew the

concept of social media being fuelled by likes or followers, Yubo is quickly

transforming the way in which Gen Z connects online by giving young users a place

where they can just hang out and be themselves without any pressure to perform.

Strong ambitions after a year of exponential growth

Since its launch in 2015, Yubo has grown significantly in key markets including

the US, the UK, Australia, Canada and France. Following a successful year in

2019, Yubo is expected to end 2020 with a revenue of $20million, doubling its

turnover from 2019.

The company seeks to increase its international growth even further, with

ambitions to expand its community in Southeast Asia, Japan, Taiwan, and South

Korea. In 2020 alone, the number of users in the Philippines who are active on

Yubo on a daily basis grew by 1700%, with time spent in live stream doubling.

Product development : an innovative and educational approach to enrich users experience

The Series C investment will be used to further develop the app's dedication to

live streaming capabilities, adding new features which will diversify the ways

in which Yubo users can interact.

These new capabilities will further enrich the user experience with more

content via a YouTube integration, new activities and games. Yubo is also

partnering with Snap Inc. to integrate Camera Kit, bringing Snapchat's camera

and AR lenses to the Yubo platform. Finally, Yubo will develop unique

recommendation algorithms to personalize its users' experience based on their

interests, social interactions, and activities on the app.

This funding round will also be used to further strengthen the platform's

commitment to developing unrivalled safety measures. Yubo's dedication to

building industry-leading safety features, such as age verification and

real-time intervention, will continue growing and raising the bar with the

support of this new funding.  

          For all media inquiries please contact press@yubo.live

SOURCE  YUBO