Albumatic, the latest venture photo-sharing from Devon Gundry and Vine investor Adam Ludwin, is raising a $4.5 million round in funding, according to a recent SEC filing.
Adam Ludwin, co-founder and principal at RRE Ventures, Devon Gundry, and RRE managing partner Stuart Ellman are all named in the filing.
The app launched just three weeks ago. According to the Form D filing, a total of ten unnamed investors have already invested in the offering, in exchange for equity. Of the $4.5 million total offering amount, $4,045,002 has been sold. Not much else has been disclosed.
Albumatic has gotten quite a bit of attention since its launch, with MG Siegler taking a particular liking to it.
Perhaps it’s gaining popularity due to the fact that you can share pictures with friends in the moment based on a certain event, but location doesn’t have to be a barrier to that sharing. Nearby friends can participate by adding to the Event album, while users from afar can watch in real-time, maybe feeling a little closer to their friends.
Albumatic isn’t about sharing photos with your friends later on, nor is it about randomly connecting with people nearby. Instead, it allows you to create and capture events with friends in the moment.
Ludwin described his approach as, “fun and done.” We’ve reached out to Ludwin, but he wasn’t able to respond by time of publication.
Albumatic is a photo album created with friends. You can start an album and add photos for friends to see. If your friends are nearby they can add photos as well. Friends who are no nearby can be notified and watch the album.
Adam Ludwin is a Principal at RRE Ventures. Mr. Ludwin focuses on early and expansion stage investments across RRE’s multiple technology verticals, with a focus on consumer & digital media, financial technology and mobile opportunities. Prior to joining RRE, Mr. Ludwin worked at the design and innovation firm IDEO as a member of the business design team. At IDEO he led a team of engineers as an entrepreneur-in-residence to incubate a collaboration software start-up. Mr. Ludwin began his...
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