Retro ‘a good long shot’ bet to avoid fate of doomed social media apps
Retro, a new social media app that focuses on connecting users with their family and closest friends, has secured an investment from Josh Kushner’s Thrive Capital. This investment comes as Retro aims to avoid the fate of similar apps that gained popularity briefly before fading away. Despite the challenges, Retro seems to have caught the attention of venture capitalists who see potential in the market. Retro is set to officially launch on the app store soon, but is currently being beta tested by a select group. The app aims to simplify the process of sharing moments with small groups of close friends, providing a modern version of inviting friends over to view a slideshow of vacation photos. The team behind Retro includes CEO Nathan Sharp, who helped launch Instagram stories, and CTO Ryan Olson, who worked as Instagram’s director of engineering. Retro has also received investments from various sources including Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, and Positive Sum.
FAQs:
1. What is Retro?
Retro is a social media app that focuses on connecting users with their family and closest friends, allowing them to share recent adventures and experiences.
2. Who is behind Retro?
Retro’s CEO is Nathan Sharp, who helped launch Instagram stories, and the CTO is Ryan Olson, a former director of engineering at Instagram.
3. What sets Retro apart from other social media apps?
Retro aims to simplify the process of sharing moments by eliminating the need to manage multiple message threads with different groups of friends. It provides a streamlined platform for sharing with small, close-knit groups.
4. When will Retro be available?
Retro is currently being beta tested by a select group of users and is set to officially launch on the app store soon. An exact date has not been announced.
5. Has Retro received any investments?
Yes, Retro has received investments from various sources including Josh Kushner’s Thrive Capital, as well as Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, and Positive Sum.
6. What challenges does Retro face?
Similar apps in the past that focused on connecting close family and friends have gained popularity briefly but quickly faded away. Retro aims to overcome this challenge and establish itself as a dominant player in the market.
7. How is the interest from venture capitalists?
Venture capitalists see potential in Retro and the social media space in general. There is a combination of seeing opportunity and investors looking to invest in something they are familiar with. However, it’s still unclear how everything will unfold in the long run.
8. How does Retro compare to Mark Zuckerberg’s app Threads?
While Threads gained a large number of users initially, it has seen a decline in active users. Retro aims to differentiate itself by focusing on small, close groups of friends rather than competing in the broader social media landscape.
9. Can I join Retro now?
Currently, Retro is in the beta testing phase and is only available to a select group of users. However, it will soon be officially launched on the app store, allowing more users to join.
Preventing the Fate of Failed Social Media Apps: Retro’s Promising Gamble
Retro, a new social media app focused on connecting users with their family and closest friends, has secured an investment from Josh Kushner’s Thrive Capital, as well as a sign-up from his supermodel wife, Karlie Kloss. Josh Kushner is renowned for his successful investment in Instagram before it was acquired by Facebook for $1 billion. However, some tech investors are skeptical about Retro’s potential due to the short-lived success of similar “close family and friends” apps like BeReal, Locket, BestFriendsNetwork, BlueSky, Spill, Lemon8, and Plurk. Despite the uncertainty, there is still a chance that Retro could overcome the odds and succeed.
A recent report revealed that Mark Zuckerberg’s new app, Threads, dubbed the “Twitter Killer,” is losing momentum after attracting 100 million users in its first five days. The number of active users has since dropped by more than half. Many potential users claim to be too overwhelmed with social media to consider joining a new platform. One disillusioned social media user even stated, “It could be the greatest app in the world, but at this point, I wouldn’t have the energy to join.”
According to industry insiders, venture capitalists are showing interest in social media app investments due to the vast opportunities in the space and a desire to invest in something familiar. However, it remains unclear where everything will ultimately lead. The possibility of there being room for multiple networks at a semi-personal level and one dominant player acting as the “town square” is being considered.
Retro has yet to officially launch on the app store, with only a select group allowed to beta test the app before its public release. The app’s CEO, Nathan Sharp, previously helped launch Instagram Stories in 2016, while the CTO, Ryan Olson, served as Instagram’s director of engineering. Retro has also received undisclosed investments from various sources, including Dylan Field, Scribble Ventures, Box Group, Imaginary Ventures, Coalition, Conviction, Copper, and Positive Sum.
Retro aims to facilitate sharing among small groups of close friends, providing a platform to exchange updates and recent adventures. Sharp explains that Retro simplifies the process by eliminating the need to decide which message thread to share content with and manage multiple threads for different groups of friends.
In conclusion, Retro’s unique approach to connecting close-knit groups through a simplified sharing experience has attracted the attention of investors, including Josh Kushner’s Thrive Capital. While similar apps have struggled in the past, Retro has the potential to carve out its own niche in the social media landscape. Only time will tell if Retro can overcome the challenges and become a successful player in the space.