Snap’s in-house Yellow accelerator program, which invests in startups, has debuted its fifth batch of investments. The company invests $150,000 in each Yellow startup for an equity stake as part of the accelerator program, which first launched in 2018. The startups will receive mentorship from Snap executives and will also get access to networking opportunities. The eight companies that are part of the latest batch of startups will take up a 13-week residency in one of Snap’s buildings in Santa Monica, California.
“Snap’s Yellow Accelerator was founded to support mission-driven, creative entrepreneurs who are building at the intersection of creativity and technology,” the company said in a blog post. “As part of the program, eight companies receive investment as well as mentorship, and ongoing programming to meet their business objectives from Snap.”
The list of new companies, as described by Snap, include:
- Bits of Stock —Is developing a cardless stock program that rewards users with fractional shares of stock on everyday purchases from the brands they love. The company is based in the Netherlands.
- Blink Date — Is creating a voice-first dating app that matches users for 10-minute voice conversations, after which they can hope to make a match.
- Bump — Is designing software to help creators track and collect their revenue from various sources, monitor their expenses and manage their crypto and NFTs in one place.
- DB Creations — Is creating catchy AR strategy games like Table Trenches with rapid prototyping and exploration.
- Ettos — Is making an e-commerce platform for beauty products, supporting inclusive beauty, based in Colombia.
- Shoplook — Is fostering a community-driven platform for visual self-expression, curation and inspiration through mood boards.
- Tiplay Studio — Is a rapidly growing game studio based in Turkey for mobile games like Water Shooty.
- Well Traveled Club — Is creating a members club for modern travelers, so they can get trusted recommendations and access to exclusive perks.
The latest batch hosts startups from countries around the world including Colombia, Turkey and the Netherlands. Snap says the startups will take part in a curriculum that is led by tech founders, investors, artists, athletes and more. The company plans to share more once the latest cohort wraps up in June.
While the program doesn’t require batch participants to integrate with Snap’s services, the company has used the program to invest in strategic areas that it has also pushed on the product side.