Imgur secures $40 million in funding to bolster site’s growth
Imgur is one of the Internet’s most favorable time-wastes but also still stands firm as one of the best community image-sharing platforms. The site allows users to upload pictures, either found on the internet or created by a user, and share them online or with the Imgur community. The site has created quite a following, and there are dozens of secretive rules and formalities that have developed within Imgur’s rank and file. These always changing rules aren’t formal but stand at items like; no selfies, don’t repost, claim your original content (OC) and so on.
With 130 million unique viewers a month, clicking on about five billion images, its not only popular but lucrative. It remains as a premiere location for users to interact, but outside of the surging traffic, the site hasn’t grown that much since its creation in 2009.
Despite Imgur’s success, the company that created the website has never allowed the service to bloat, and the core team that runs the site remains true to their original idea of the website. That includes keeping things simple, and putting the user first.
Earlier today Imgur announced that the company has raised $40 million from Andreessen Horowitz. “Being bootstrapped is great,” said founder Alan Schaaf, “You own 100 percent of it. But the downside is that you aren’t able to move as fast as you want.”
“We’ve talked with over a dozen VCs and angel investors over the years,” Scaahaaf explained. “We’ve never clicked with any of them until Andreessen. During our initial meeting, we were bouncing ideas around about where Imgur could go.” Rumors of Imgur’s acquisition by larger companies like Yahoo! has caused panic and outrage on the site in the past, even though those buyouts had never gone into fruition.
With the funding Imgur will hope to bolster the mobile use of the site, create a larger sales team and secure a larger office for its staff. With the company’s original team still in place, it will be exciting to see how the site will improve, and we wish them the best.