Instacanvas Raises $1.7M Round For Its Instagram Prints, Expands Its Product Offerings
One of the cool things about Instagram is that it has spawned a whole ecosystem of companies that use the popular photography app’s APIs to develop their own services. One of these is Instacanvas, a recent graduate of the L.A.-based MuckerLab accelerator. The company, which allows Instagram users to sell their photos as physical prints, just announced that it has raised $1.7 million in an oversubscribed round. Investors include FF Angel (Founders Fund’s seed investment vehicle), First Round Capital, and Bullpen, as well as a number of angel investors, including Scott Banister.
More Than Just Canvases
Munson also noted that the company piqued investors’ interest because it stands at the intersection of social and e-commerce. The site’s current growth curve also looks more like a pure social media play than an e-commerce site, with the advantage that Instacanvas has a an easily identifiable business model.
The service, as Munson told me, currently hosts about 100,000 Instagram galleries that its users can use to sell their photos on canvas and as framed artwork. The company’s users come from about 35-40 different countries.