Cinemagram Raises $8.5 Million
Startup Cinemagram, which makes a hybrid photo/video app and competes with the likes of Instagram, has raised $8.5 million in a venture capital round led by Menlo Ventures and including Atlas Ventures, Khosla Ventures and Real Ventures. According to the AllThingsD report, Cinemagram has been growing rapidly in the last two months, adding 100,000 or more users per day.
Through its iPhone app, users create “Cines” by taking a short video, selecting a still image from the clip, and then defining a specific area of the image to animate. The content is saved as a GIF file that can be shared like a photo, but appears to be animated when viewed in the app or online.
Brands and music acts including Red Bull, Sony Pictures, Linkin Park, Neon Trees and Pink have tapped into Cinemagram’s growing popularity to help promote new albums, movies, and other products. With the new funding, the five-person Cinemagram team plans to expand staffing after relocating to San Francisco, and extend its app to Android.