SCOOP: Benchmark Nabs Series A in Hot App Poparazzi
Benchmark tops Andreessen Horowitz in pursuit of buzzy photo sharing app.
Sources tell me that Benchmark has secretly scored a major consumer investing win.
The firm led a Series A investment in TTYL — the company that created Poparazzi, sources said. The deal got done within days of Poparazzi’s hectic launch.
Poparazzi is currently the top free app in Apple’s app store. Benchmark partner Sarah Tavel led the approximately $20 million round.
The photo sharing app is the latest buzzy consumer company to take Silicon Valley (and American teenagers) by storm. I hear Andreessen Horowitz also competed to lead the Series A round. Benchmark and Andreessen Horowitz have fought fiercely over a number of consumer deals.
Floodgate, Dream Machine, Shrug Capital, and Weekend Fund are among TTYL’s seed investors, according to Pitchbook.